The deployment of the Digital Dirham in the United Arab Emirates is planned for 2023

The deployment of the Digital Dirham in the United Arab Emirates is planned for 2023 The spread of digital dirhams is again on the agenda of the United Arab Emirates. The country is focused on several goals aimed at overhauling its financial system, encouraging innovation and putting more emphasis on a “green economy”.

In early 2019, the United Arab Emirates announced their plans to deploy a central bank digital currency (MNBC) together with Saudi Arabia. Now, for Dubai, the prospects are bright: the subject is back on the agenda, but at a national level.

The national central bank has clarified its priorities for 2023 to 2026. Seven goals were stated, including a desire to launch MNBC UAE.

The country also plans to make more use of artificial intelligence and Big Data in driving the digital transformation of the region's financial services.

In this vein, digital identification, inspection, control and assurance systems will now use this technology.

According to the United Arab Emirates, this arrangement will be made with the aim of facilitating access to financial services and encouraging financial inclusion.

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Latest Innovations in the United Arab Emirates

According to the country, one of the main motivations for this complete overhaul of the financial system was to put more emphasis on a “green economy”. The United Arab Emirates wants to develop more innovative infrastructure to cope with greater competitiveness.

The UAE's MNBC deployment is part of the United Arab Emirates' "Century Plan" planned for five decades beyond 2021.

A roadmap has been drawn up to honor several important points in the eyes of the state. In 2071, here are some other big things the United Arab Emirates has planned:

  • Investing in education, among others, through advanced technology;
  • Building a legacy around values ​​and ethics for future generations;
  • Increase the productivity of the national economy;
  • Strengthen community cohesion.
  • The main objective is being studied closely: a survey aimed at understanding the expectations and future needs of partners will be conducted from 15 July by the UAE central bank. The question of the spread of the digital dirham will probably be studied.

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