The future of money in the UAE isn’t coming; it’s already here. The Ministry of Finance and Dubai Finance Department have just completed the country’s first-ever government transaction using the Digital Dirham, marking a major moment in the UAE’s journey toward fully digital payments. The move doesn’t just test new tech; it shows how close we are to a world where government, business, and everyday payments happen instantly, securely, and without the old banking delays.

What Is the Digital Dirham?

The Digital Dirham is the UAE’s official digital currency issued by the Central Bank, not a cryptocurrency, but a highly secure, government-backed digital version of the dirham.

It’s being rolled out under the Financial Infrastructure Transformation (FIT) Programme, which aims to modernise the UAE’s payment systems and move the country toward a fully integrated digital economy.

Why the First Government Transaction Matters

Completing the first real transaction shows that:

• The technology works in real-world conditions
• Government systems across the UAE are technically integrated
• Settlements can happen faster, more securely, and with full transparency
• The UAE is serious about becoming a global leader in digital finance

The transaction was processed in under two minutes via the mBridge platform, a multi-CBDC settlement system that allows instant government-to-government payments without intermediaries.

How the Digital Dirham System Works

The transaction was executed through mBridge, a platform built for settling payments using different central bank digital currencies.

With mBridge + the Digital Dirham, UAE government entities can:

• Issue and receive digital payments instantly
• Settle financial transactions directly with the Central Bank
• Reduce costs and eliminate intermediaries
• Improve accuracy and prevent delays
• Increase transparency across all government financial operations

This system is now fully integrated with the UAE’s Digital Dirham pilot phase.

Why the Digital Dirham Is the Future

Here’s what this milestone means for the years ahead:

1. Faster, cheaper, and more secure payments

Digital settlements replace traditional bank transfers, making transactions nearly instantaneous.

2. A fully digital government finance ecosystem

Federal and local entities will eventually transact fully in Digital Dirham — ensuring accuracy, automation, and better auditing.

3. A foundation for private-sector adoption

Once government systems scale, businesses will follow.
Expect quicker payroll, supplier payments, and cross-border settlement.

4. A competitive edge for the UAE

By being among the first nations to launch a working CBDC, the UAE positions itself as a global leader in fintech innovation.

5. A step toward a fully integrated digital economy

This aligns with the nation’s long-term vision: A smart, cash-free, fully digital financial ecosystem.

What Leaders Are Saying

UAE leaders have framed this as a historic milestone:

A pillar of the UAE’s digital economy

Sheikh Mansour bin Zayed said the Digital Dirham is a strategic pillar in building an integrated digital economy and strengthening the UAE’s role as a global financial hub.

A leap in financial efficiency

Sheikh Maktoum bin Mohammed said using the Digital Dirham in government payments boosts transparency, efficiency, and integration across the public financial ecosystem.

A global confidence booster

Central Bank Governor Khaled Mohamed Balama emphasised that this milestone reinforces the UAE’s leadership in next-generation financial innovation and advanced payment systems.

Future Currency

The first Digital Dirham government transaction is more than a pilot test — it’s the beginning of a new era of how money will move in the UAE.

With faster settlements, stronger security, and unified digital infrastructure, the Digital Dirham is on track to become the country’s future currency and transform how the government, businesses, and eventually consumers transact.

Dubai’s most walkable lifestyle hub is getting a sleek new extension. Meraas, part of Dubai Holding Real Estate, has awarded a Dh440 million contract to GCC Contracting to develop City Walk Northline, a premium residential expansion that’s set to reshape life in one of the city’s most vibrant neighbourhoods.

Expected to be completed by 2027, City Walk Northline will feature three modern residential buildings that seamlessly blend with the area’s contemporary energy, offering residents a fresh take on urban living with more space, more light, and more lifestyle experiences right at their doorstep.

A new home in the heart of the action

City Walk Northline 1 will house 114 one- to three-bedroom apartments, while Northline 2 will feature two eight-storey towers with 190 units, all designed with open layouts, elegant finishes, and private terraces that extend the indoors into Dubai’s year-round sunshine.

Set between Jumeirah Street and Sheikh Zayed Road, the new development gives residents instant access to the best of the city, from Coca-Cola Arena and Dubai Mall to Jumeirah Beach, all just minutes away.

Designed for the way Dubai lives

The new residences will introduce a refined, minimalist aesthetic, inspired by City Walk’s architectural rhythm and landmarks such as The Green Planet and Central Park. Interiors will be bathed in natural light, with premium materials, sleek kitchens, and timeless design touches that balance comfort and style.

Residents can look forward to infinity-edge pools, modern gyms, shaded terraces, and stylish communal lounges, all designed to offer a private retreat from the city buzz while staying connected to its energy.

A community built around lifestyle

For residents, the expansion means even more walkable dining, leisure, and green spaces, reinforcing City Walk’s identity as a place where people can live, work, and play without ever needing to leave the neighbourhood.

The passing of Gopichand Hinduja, Co-Chairman of the Hinduja Group, marks the loss of a remarkable visionary whose leadership transcended borders and industries.  The chairman of the Hinduja Group and one of Britain’s wealthiest businessmen died in London on Tuesday, November 4, at the age of 85, according to PTI. Fondly known as ‘GP’ in global business circles, Hinduja had been unwell for several weeks and passed away in a London hospital, said sources.

Under his stewardship, the Hinduja Group evolved into a diversified multinational conglomerate spanning automotive, energy, banking, infrastructure, and technology, with a growing footprint in the Gulf region, particularly in the UAE.

He recognised the UAE not just as a commercial hub, but as a key growth market and a platform for innovation and sustainability. His belief in the nation’s vision of economic diversification inspired strategic collaborations that strengthened local industries while deepening India’s enduring partnership with the Emirates.

Hinduja also acknowledged the region’s dynamic reforms and its emergence as the ‘Capital of Global Wealth,’ aligning perfectly with the Group’s guiding philosophy of ‘think local, act global.’ Under his direction, the UAE became an essential regional hub for the Hinduja Group’s business expansions across the Asia-Pacific and beyond.

One of the Group’s most promising ventures in the region is Switch Mobility, formed through the merger of Ashok Leyland’s electric vehicle division and the UK-based Optare. The company exemplifies Hinduja’s long-term vision for a greener, smarter future. In line with the UAE’s sustainability goals and Saudi Arabia’s Vision 2030, Switch Mobility had planned trial runs of its electric buses and light trucks in both countries this year, signalling a new era of sustainable mobility in the Middle East.

Hinduja’s influence was never confined to business. He believed deeply in “business with a purpose”, emphasising philanthropy, education, and community empowerment as integral parts of success. His humility, spirituality, and people-first leadership style earned him respect across continents.

As the UAE continues to evolve as a hub for innovation and sustainable development, Gopichand Hinduja’s legacy endures in every partnership, investment, and idea that bridges nations for a better tomorrow. 

Gopichand Hinduja leaves behind his spouse Sunita, two sons Sanjay and Dheeraj, and daughter Rita.

Sources: India Today, Gulf News, PTI