(MENAFN) The UAE reached a decision with Saudi Arabia to launch a digital currency for cross-border dealings between them.
The agreement was secured on Wednesday between the UAE's Central Bank and the Saudi Arabian Monetary Authority (Sama).
The news was announced by CBUAE governor Mubarak Rashed Al Mansouri in Abu Dhabi at the Arab Fintex Forum.
The governor stated: "this is probably the first time ever that witnesses the cooperation of monetary authorities from different countries on this topic and we hope that this achievement will foster similar collaboration in our region."
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