UAE Central Bank Plans to Launch Digital Currency in 3 Years

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Today’s Headline

The Central Bank of the United Arab Emirates has announced its plan to launch a digital currency as part of its 2023-2026 strategy to become one of the world’s top 10 central banks. The Emirates central bank said its plans include “issuing a digital currency and driving digital transformation in the UAE’s financial services sector, by utilizing the latest artificial intelligence and big data solutions.

CBUAE’s strategy involves seven objectives to help drive the country’s digital transformation ambitions, primarily focused on financial services. Gulf News reported that this transformation will be heavily dictated by the latest iterations of artificial intelligence and big data solutions.