Digital Dirham used in government transaction

Move builds on pilot that saw UAE transfer DhSOm to China using same platform

- BY JUSTIN VARGHESE Your Money Editor

Ihe UAE has completed its first government financial transaction using the Digital Dirham, marking a major milestone in the country’s push toward a fully digital economy.

The move builds on a cross-border pilot that saw the UAE successfully transfer Dh50 million to China using the platform.

The Ministry of Finance and the Dubai Department of Finance carried out the transaction in collaboration with the Central Bank of the UAE.

The transaction is part of the pilot phase of the Digital Dirham project, launched under the CBUAE’s Financial Infrastructure Transformation (FIT) Programme. The programme aims to accelerate the adoption of digital payments, promote financial inclusion, and strengthen the UAE’s position as a global financial hub.

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