UAE public holidays
ABU DHABI: The UAE Central Bank on Monday announced that it has successfully executed a nationwide digital currency payment with Saudi Arabia. The pilot project was based on 'Blockchain technology&
The pilot project, a reflection of the shared commitment of both the UAE and Saudi Arabia to enhance cross-border transactions through modern financial technology, marks the first implementation of the digital currency payments systems initiative by the two central banks.
It follows an agreement signed by the monetary authorities of the UAE and Saudi Arabia on January 29, 2019, to collaborate on a joint project to test the combined central bank digital currencies in cross-border transactions, as part of efforts to facilitate financial settlements between the two countries.
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ABU DHABI: The UAE Central Bank on Monday announced that it has successfully executed a nationwide digital currency payment with Saudi Arabia. The pilot project was based on ‘Blockchain technology’.
The pilot project, a reflection of the shared commitment of both the UAE and Saudi Arabia to enhance cross-border transactions through modern financial technology, marks the first implementation of the digital currency payments systems initiative by the two central banks.
It follows an agreement signed by the monetary authorities of the UAE and Saudi Arabia on January 29, 2019, to collaborate on a joint project to test the combined central bank digital currencies in cross-border transactions, as part of efforts to facilitate financial settlements between the two countries.
The UAE completed its first-ever cross-border payment to China using digital currency, executed by Sheikh Mansour through the new ‘Jisr’ platform. The two countries also linked their instant payment systems and launched the joint ‘Jaywan–UnionPay’ prepaid card. These steps, supported by a new central bank MoU, strengthen financial cooperation and modernise bilateral payment infrastructure.
At Qasr Al Watan in Abu Dhabi, His Highness Sheikh Mansour bin Zayed Al Nahyan, UAE Vice President, Deputy Prime Minister, Chairman of the Presidential Court, and Chairman of the Central Bank of the UAE’s Board, received Pan Gongsheng, Governor of the People’s Bank of China, in the presence of UAE Central Bank Governor Khaled Mohamed Balama.
During this meeting, Sheikh Mansour executed the first-ever cross-border payment using central bank digital currency (CBDC) between the UAE and China. The transaction was completed through ‘Jisr’, a newly introduced network designed specifically for CBDC-enabled cross-border transfers.
The ‘Jisr’ platform, established with participation from Emirati and Chinese banks, aims to deliver instant settlement, reduce cross-border transaction costs, and support smoother payment flows.

UAE–China instant payment systems interlinked

Ceremonies held during the visit highlighted the successful interconnection of financial infrastructures between both nations. Attendees included Sheikh Mansour, both central bank governors, Zhang Yiming, Ambassador of the People’s Republic of China to the UAE, along with assistant governors and senior officials.

One of the central announcements was the interlinking of the UAE’s Instant Payment System with China’s Internet Banking Payment System. This integration enables secure, real-time money transfers available 24/7.

The linkage supports multiple use cases, such as:

Scholarship transfers for Emirati students in China
Remittances for Chinese residents in the UAE
Cross-border payments supporting commercial transactions between companies in both countries

Launch of the ‘Jaywan–UnionPay’ multi scheme prepaid card

Another milestone unveiled was the official launch of the ‘Jaywan–UnionPay’ prepaid card, the first multi-scheme prepaid card, paired with the execution of its first transaction.

Developed through cooperation between Jaywan, the UAE’s domestic card scheme, and UnionPay, the Chinese payment network, the card brings:

Acceptance in over 180 countries through UnionPay’s global network
Local processing for transactions conducted within the UAE
Issuance in partnership with Lari Exchange

Strategic MoU signed between central banks

To support continued collaboration, Khaled Mohamed Balama and Pan Gongsheng signed a Memorandum of Understanding (MoU) focused on:

Enhancing cooperation in cross-border payments
Developing advanced financial infrastructures
Supporting joint strategic initiatives that strengthen long-term bilateral partnership

Remarks from UAE leadership

Sheikh Mansour highlighted the “depth of the strategic partnership” between the UAE and China, noting that the launch of the ‘Jisr’ platform, the instant payment system interlinking, and the new ‘Jaywan–UnionPay’ card are tangible steps toward a modern, secure financial ecosystem. He emphasised that these developments will support innovation, enable streamlined cross-border payments, and reinforce the UAE’s global leadership in financial technology.

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