RATE Group | Saudi-UAE Leaders Confirm Forthcoming Jointly-Issued Digital Currency
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Saudi-UAE Leaders Confirm Forthcoming Jointly-Issued Digital Currency

30 Nov Saudi-UAE Leaders Confirm Forthcoming Jointly-Issued Digital Currency

Posted at 09:17h in Cryptocurrency News by

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Saudi Crown Prince Mohammed bin Salman arrived in the United Arab Emirates (UAE) for an official visit yesterday to discuss joint policy measures, including a digital currency plan. 

On Nov. 27, private English-language daily UAE newspaper The National reported that Prince Mohammed was welcomed by His Highness Sheikh Mohamed bin Zayed al Nahyan, the Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces. 

Financial and political cooperation

The two leaders are reported to have officially agreed on four new policy partnerships and to have reviewed seven strategic initiatives. On the agenda was a policy to launch a digital currency to facilitate interbank trading between the two countries.

Details of the jointly-issued digital currency were revealed by the United Arab Emirates Central Bank (UAECB) and the Saudi Arabian Monetary Authority (SAMA) in January of this year.

Today’s discussion situates the policy among the foremost partnerships between the countries…

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