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Mohammed Abdul Salam, Founder and CEO of the first digital currency platform in the UAE, ‘BURENCY’, said that the platform is 100% made by Arabs, and a fully secured one. Dubai has been always supportive and encouraging to all innovative companies, which contributed in the launch and success of BURENCY in the Arab market, earning the trust of various users and traders.
A rising number of central banks (CBs) are likely to issue their own digital currencies in the next few years, research by the Bank for International Settlements (BIS) showed, as interest in the technology heats up.
The Ministry of Finance (MoF), announced the completion of phase one of the transformation of the e-Dirham system, in cooperation with relevant ministries and national banks across the UAE.
Emirates NBD, a leading banking group in the MENAT region, has completed successful migration of its customer base to the Smart Pass service to support safer digital transactions.