The Central Bank of the UAE launched its Central Bank Digital Currency strategy, dubbed “The Digital Dirham,” on Thursday, March 23. The CBUAE has partnered with G42 Cloud and R3 to provide infrastructure and technology for its digital currency programme. The bank recently launched a programme called Financial Infrastructure Transformation [FIT]. As previously reported, the initiative aims to accelerate the financial services sector’s digital transformation. It will accomplish this by promoting digital transactions and encouraging ecosystem innovation. This is expected to boost the UAE’s chances of becoming a financial and digital payment hub. The programme includes nine initiatives, one of which is the launch of a Central Bank Digital Currency.