The United Arab Emirates plans to implement a central bank digital currency as early as 2023 Gulf News reports, as outlined in a road map for the Gulf State’s economic future.
Fast facts
- This 2023-2026 roadmap includes seven objectives — including the CBDC rollout — with the aim of making the UAE one of the top 10 countries in the world in digitally transforming its financial sector.
- Artificial intelligence and big data solutions in payments and insurance will be a key focus that will also tie into the country’s digital ID infrastructure service, UAE Pass, which allows citizens to access multiple government services with a single application.
- The Gulf News also reported the launch of a survey titled, “Future Expectations and Needs of Partners Survey,” which will assist the UAE in achieving its Centennial 2071 goal of “becoming the best country in the world.” This survey, to be conducted on July 15, is already available to participate in online.