The UAE made history with the first government transaction using the Digital Dirham
The UAE has completed its first government transaction using the Digital Dirham, marking a major milestone in the country’s efforts to build an integrated and secure digital economy.
The transaction, carried out jointly by the Department of Finance and Finance of Dubai (DOF) in collaboration with the central bank of the UAE, represents a key step in the widespread adoption of digital currency by the government and private sector.
This initiative confirms the UAE’s role as a pioneer in future financial technologies.
UAE Digital Dirham Transact
This access is part of the pilot phase of the Digital Diricham project, which was established by the Central Bank of Uae under the financial infrastructure program (appropriate) in connection with local financial authorities.
The project aims to accelerate digital payments and strengthen the UAE’s position as a global hub for innovation.
Sheikh Mansour bin Zaysed Al Nahyan, Vice President, Chairman of the Presidential Court, and chairman of the Central Bank of the UAE, consolidated the position of the UAE as a global financial center as a financial residence.
He pointed out that making the first government transaction between the federal government and the government of Dubai shows the integration of national financial systems and advanced technological infrastructure that supports sustainable growth and macroeconomic stability.
Historical transactions
Sheikh Maktoum Bin Mohammed Bin Rashid Al Mashid Al Maktoum, First Deputy Vice-Chancellor, and Minister of Finance, and the Minister of Finance, while using the clarification of the Ministry of Finance in financial management, while improving transparency and efficiency in government financial systems.
He emphasized that this step strengthens the integration of the National Financial Ecosystem and aligns with the vision of the UAE leadership to build a digital and reliable national economy.
Mohammed Hadi al Husseini, Minister of State for Financial Affairs, said: “The use of the Digital Dirham for government transactions is an acceleating change in financial technology, creating an opportunity to improve government and private payments.
“Executing the first government transaction using the Digital Dirham in collaboration with the Central Bank of the UAE serves as a pioneering model for the organization and enhances the economic confidence of the UAE.”
Khaled Mohamed Malama, governor of the central bank of the UAE, said: “Launching the digital Pilot phase sets a milestone for digital and financial responsibility, to consolidate financial leadership, to consolidate its global leadership in financial innovation.”
He said the Central Bank remains committed to working with partners to develop cutting-edge financial solutions that adapt to global shifts, emphasize national resilience, and help build a global digital economy.
Integration with MBRIDGE
Abdulrahman Saleh Al Saleh, director general chairman of the DOF and Deputy Chairman of the Central Bank of the Uae, said the successful implementation of the first shows the integration of financial resources and the development of favorable infrastructure.
Manager Ahmed Ali Meftah, Managing Director of the Department of Contantral Accounts in the DOF, said that the pilot’s transactions are carried out with MBRIGHT HERSHERAL PRICTICT OF SECURITY SECURITY OPERATION AND FREE COMMUNICATION.
He also saw that the transaction was completed in less than two minutes, emphasizing its efficiency and the ability to issue settlements between Federal and local government agencies.
Building the foundation for the digital economy
The MBRIGG platform enables government agencies to conduct settlements using secure digital banking (CBDC). In conjunction with the Digital Dirham Initiative, it provides an integrated channel for issuing, receiving, and settling digital payments without intermediaries.
The platform improves efficiency, transparency, and cost effectiveness, supporting the UAE’s digital transformation and consolidating its global leadership in financial technology.
The Initiative underscores the UAE’s strong progress towards a fully integrated digital economy, emphasizing its regional and global leadership in developing advanced technology solutions that improve transparency, efficiency, and sustainability of all financial systems.
