Saudi Arabia: Common digital currency "Aber" pilot project

Progress

Current status

adopted

29 Nov 2020 adopted

17 Jan 2019 under deliberation

Scope

Implementers

Saudi Arabia

United Arab Emirates

Policy Area

Authorisation, registration and licensing

Policy Instrument

Authorisation of goods or services

Regulated Economic Activity

digital payment provider (incl. cryptocurrencies)

Government Branch

executive

Government Body

central bank

Implementation Level

bi- or plurilateral agreement

Timeline of events

29 Nov 2020

adopted

Adopted Report on Common Virtual Currency Project "Aber"

On 29 November 2020, the Saudi Arabian Monetary Authority (SAMA) and the United Arab Emirates Central Bank (UAECB) issued a report on their common digital currency (CBDC) project "Aber". The project's objective was to integrate blockchains and distr…

Event type order

Action type adoption

Government branch executive

Government body central bank

17 Jan 2019

under deliberation

Announced Common Virtual Currency Project "Aber"

On 17 January 2019, the Saudi Arabian Monetary Authority (SAMA) and the United Arab Emirates Central Bank (UAECB) announced the launch of common digital currency project "Aber". The project's objective is to integrate blockchains and distributed led…

Event type declaration

Action type announcement