{"id":73063,"date":"2023-01-25T16:58:00","date_gmt":"2023-01-25T14:58:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=73063"},"modified":"2025-09-09T12:02:15","modified_gmt":"2025-09-09T09:02:15","slug":"saudi-central-bank-says-no-decision-yet-on-cbdc-issuance","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/saudi-central-bank-says-no-decision-yet-on-cbdc-issuance\/","title":{"rendered":"Saudi Central Bank says no decision yet on CBDC issuance"},"content":{"rendered":"<p>The Central Bank of Saudi Arabia will continue studying options for using the national digital currency; a decision on its issuance has not been made. This is stated in<a href=\\\"https:\/\/www.sama.gov.sa\/en-US\/News\/Pages\/news-812.aspx\\\"> \u0431\u044e\u043b\u043b\u0435\u0442\u0435\u043d\u0435 \u0440\u0435\u0433\u0443\u043b\u044f\u0442\u043e\u0440\u0430<\/a>.<\/p>\n<p>\\n\\n<\/p>\n<p>The central bank continues to focus on assessing the benefits and potential risks of implementing a CBDC.<\/p>\n<p>\\n\\n<\/p>\n<p>At present, the central bank is focused on developing a wholesale-use scenario for the national digital currency in cooperation with local banks and fintechs.<\/p>\n<p>\\n\\n<\/p>\n<p>Other aspects under study include the impact on the economy, market readiness, and the use of a CBDC-based payment solution. In addition, the central bank is analysing political, legal and regulatory implications.<\/p>\n<p>\\n\\n<\/p>\n<p>The launch of CBDC is part of the strategy<a href=\\\"https:\/\/ru.wikipedia.org\/wiki\/%D0%92%D0%B8%D0%B4%D0%B5%D0%BD%D0%B8%D0%B5_%D0%A1%D0%B0%D1%83%D0%B4%D0%BE%D0%B2%D1%81%D0%BA%D0%BE%D0%B9_%D0%90%D1%80%D0%B0%D0%B2%D0%B8%D0%B8_2030\\\"> Saudi Vision 2030<\/a> \u2014 an initiative to reduce the kingdom&#8217;s dependence on oil, diversify its economy and develop sectors of public services such as healthcare, education, infrastructure, leisure and tourism.<\/p>\n<p>\\n\\n<\/p>\n<p>In 2019, the UAE and Saudi Arabia announced a collaboration to create a new digital currency for cross-border payments.<\/p>\n<p>\\n\\n<\/p>\n<p>By the end of November 2020, the parties stated that the Aber<a href=\"https:\/\/forklog.com\/en\/news\/uae-and-saudi-arabia-assess-cbdc-potential-for-cross-border-payments\"> CBDC released under the project demonstrated the technical viability of the concept<\/a>. The authors of the report noted its \u201csignificant superiority over centralized payment systems in the context of architectural resilience\u201d.<\/p>\n<p>\\n\\n<\/p>\n<p>In June 2022, BIS specialists named <a href=\"https:\/\/forklog.com\/en\/news\/bis-says-cbdcs-will-be-the-foundation-of-future-monetary-systems\">CBDC the basis of the monetary systems of the future<\/a>.<\/p>\n<p>\\n\\n<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news on our <a href=\\\"\/\/telegram.me\/forklog\u201d\\\" target=\\\"\u201c_blank\u201d\\\" rel=\\\"\u201cnofollow\u201d noopener\\\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Central Bank of Saudi Arabia will continue to study options for using the national digital currency; a decision on its issuance has not been made. This is stated in the regulator&#8217;s bulletin.<\/p>\n","protected":false},"author":1,"featured_media":73064,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1095,1368],"class_list":["post-73063","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cbdc","tag-saudi-arabia"],"aioseo_notices":[],"amp_enabled":true,"views":"12","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/73063","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=73063"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/73063\/revisions"}],"predecessor-version":[{"id":73065,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/73063\/revisions\/73065"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/73064"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=73063"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=73063"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=73063"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}