Saudi central bank mulls blockchain use
CAIRO: The Saudi Central Bank (SAMA) is still examining some emerging technologies, including distributed ledgers and blockchain, before it makes any decision, Arab News quoted a report from Al Eqtisadiah.
SAMA is one of the first central banks in the G20 countries to experience distributed ledgers and blockchain technologies through the ‘Aber’ digital currency project.
These efforts are part of the central bank’s push to a less cash-dependent society, as outlined under the Kingdom’s Vision 2030.
The government wants to boost e-payments to 70 per cent of total transactions by 2030, the central bank said, as it has no intention of completely phasing out banknotes.
SAMA is optimistic it would achieve this goal five years earlier than the 2030 target.
China’s industrial profits sustain growth in first 10 months
BEIJING: Profits of China’s major industrial firms maintained sound growth momentum in...
Crackdown against fertiliser hoarders, profiteers ordered
LAHORE: Punjab chief secretary Kamran Ali Afzal has directed all the deputy commissioners...
Foodpanda celebrates successful launch of Pandafly at Dubai Expo
KARACHI: Foodpanda, Pakistan’s leading food delivery company, and also the largest e-commerce...
FBR chairman holds e-Kachehri
ISLAMABAD: As a sequel to e-Kachehries held on a monthly basis to...
Federal govt focusing on 14 Sindh districts under uplift plan: PM Imran Khan
ISLAMABAD: Prime Minister Imran Khan has said that the federal government is...