Working Group: Finance - CBDCs
Government Body: The Executive Committee of the Saudi-Emirati Coordination Council
Key Issue: Banking
Type of Action: Pilot Project
Next Steps: N/A
Summary: The Executive Committee of the Saudi-Emirati Coordination Council confirmed the development of a shared digital currency, called ‘Aber’, that would be used for exchange between the central banks of Saudi Arabia and the UAE.
Date: 28 November 2019
Regulation URL/Source: https://coinrivet.com/uae-and-saudi-arabia-confirm-plans-for-joint-digital-currency/