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UAE Bank Launches Financial Infrastructure Transformation Program

Published 02/13/2023, 10:59 AM
Updated 02/13/2023, 11:00 AM
UAE Bank Launches Financial Infrastructure Transformation Program

  • The Central Bank of the UAE launches Digital Financial Initiatives via Financial Infrastructure Transformation Programme (FIT).

  • The FIT program includes nine key digital finance initiatives that allow UAE to become the financial and digital payment hub.

  • The new program aims to position CBUAE among the top central banks globally.

The Central Bank of the UAE (CBUAE) has launched the Financial Infrastructure Transformation Programme (FIT). The FIT Programme has included nine key digital finance initiatives aimed at the acceleration of digital transformation in the financial services sector.

As per the official announcement, the nine key initiatives permit UAE to become the “financial and digital payment hub” and a “center of excellence for innovation and digital transformation.” The FIT program is part of a wider strategy to position CBUAE among the top central banks globally.

Notably, the FIT program could support the financial services sector, encourage digital transactions, and make UAE a digital and financial payment hub.

The FIT program’s proposal included the launch of a Card Domestic Scheme and the development of an Instant Payments Pla…

The post UAE Bank Launches Financial Infrastructure Transformation Program appeared first on Coin Edition.

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