Central Bank of the UAE

On March 15th, the Reserve Bank of India and the Central Bank of the United Arab Emirates signed a memorandum of understanding to promote innovation in financial products and services, including cooperation in the central bank’s digital currency. The Bank of India and the Central Bank of the United Arab Emirates will cooperate on CBDC Analysis based on this information:The Reserve Bank of India and the Central Bank of the United Arab Emirates have recently signed a memorandum of understanding to foster financial innovation and cooperation between the two central banks. The memorandum of understanding aims to boost innovation in financial products and services, and also calls for both parties to support greater collaboration in the digital currency space. The Central Bank of the UAE has been exploring the possibility of creating its own central bank digital currency (CBDC) for several years now. The memorandum of understanding with the Reserve Bank of India signals an interest in collaborating on this…