The United Arab Emirates has successfully conducted the first transaction using its central bank digital currency (CBDC), the Digital Dirham, marking a significant milestone in the pilot phase of the project. The transaction was announced on November 11, 2025, by the UAE's Ministry of Finance and Dubai Finance, and was processed on the mBridge platform in less than two minutes.
Ahmed Ali Meftah, executive director of central accounts at Dubai Finance, stated that the pilot aimed to test operational readiness and ensure seamless integration with the Central Bank's systems. He emphasized that the swift transaction underscores the goal of enhancing efficiency and expediting financial settlements between government entities.
H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Prime Minister and Minister of Finance, described this as a pivotal milestone in the history of government financial transformation in the UAE, highlighting its role in advancing the national digital currency for both government and private sector use.
The rollout of the Digital Dirham is planned in phases, with initial features limited to payments to avoid competition with savings products. This initiative aligns with the UAE Central Bank's policy paper from July 2025, which positions the CBDC as a means to future-proof central bank money for the digital economy.
Project mBridge, a collaboration involving the BIS Innovation Hub, Bank of Thailand, Central Bank of the UAE, People's Bank of China, and Hong Kong Monetary Authority, has expanded to include Saudi Arabia's Central Bank in 2024. Globally, only three CBDCs have officially launched—in Nigeria, the Bahamas, and Jamaica—while 49 countries are in the pilot phase, according to the Atlantic Council. The IMF commended the UAE's progress in October 2025, urging continued modernization while assessing risks.
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