The leaders of the UAE and Saudi Arabia discussed the launch of the joint digital currency

Crown Prince Saudi Arabia Mohammed Ben Salman and His Highness Sheikh Mohammed Ben Zayid Al-Najian, the Crown Prince Abu Dhabi, discussed a number of questions, among which was the launch of a joint digital currency to simplify interbank settlements between the two countries.

So far, representatives of power and the Central Bank are not called the launch time.

In February, the Central Bank of the UAE reported that six commercial banks from both countries are engaged in the development of ABER digital currency for cross-border operations. It was assumed that about 12 months would need to check the concept, but the final decision on the feasibility of the launch will be taken by central banks of the country.

During the official meeting, the heads of state agreed on four new strategic partnerships and considered seven strategic initiatives. Among other things, they discussed cooperation in the field of cybersecurity and the construction of a new oil refinery with a daily capacity of 1.2 million barrels.

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