UTC-05:00,Tuesday , September 29th 2020

Saudi Arabia And UAE To Finalize Cryptocurrency Pilot Ops By Year-End

04:01 Wednesday , September 11th 2019
Saudi Arabia and the UAE will finalize the pilot operations of the digital currency for cross-border bank transactions by year-end, Al-Eqtisadiah has reported, citing Hisham Al Hogail, Deputy Governor for Banking Operations at Saudi Arabian Monetary Authority (SAMA).
The pilot operations will likely focus on the technical aspects. Meanwhile, legal and economic aspects will be examined at a later stage. "SAMA will expand the cryptocurrency usage to other countries following UAE," added Al Hogail.
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