As we enter the new financial quarter, the UAE market has seen some exciting developments that are making waves in the region. From significant advancements in the financial sector to a rise in travel surplus for Saudi Arabia, here’s a roundup of the latest Emirates market news for today.
UAE to launch Digital Dirham by year-end to modernise payments
The UAE is all set to launch its own Central Bank Digital Currency (CBDC), the Digital Dirham, between October and December 2025. The initiative aims to boost financial inclusion, modernise payment systems, and enhance security and efficiency in the financial ecosystem. The Central Bank of the UAE (CBUAE) confirmed the timeline for the launch, marking a significant step in the country’s ambition to lead in the global shift toward digital currencies.
The Digital Dirham will be available to both individuals and businesses via licensed institutions like banks, fintech firms, and exchange houses. This move aligns with the UAE’s broader Financial Infrastructure Transformation (FIT) program, which focuses on strengthening its financial sector. The new currency will allow for faster and more secure payments, tackling financial crime by recording transactions on the blockchain.
The UAE joins a growing list of countries, including China, India, and South Korea, that are actively developing CBDCs. This move is expected to set a new benchmark in the region’s financial landscape, offering more efficient, traceable, and secure transaction methods.
Saudi Arabia posts $13.28bn travel surplus in 2024
Saudi Arabia has posted a record travel surplus of $13.28 billion in 2024, marking a significant year-on-year increase of 8.3% compared to 2023. This impressive figure comes from the surge in spending by international visitors to the Kingdom, which amounted to $41 billion in 2024. The increase is attributed to the government’s efforts to promote tourism, alongside a boost in international arrivals as the Kingdom continues to diversify its economy away from oil.
Despite the growth in outbound travel spending, which rose 18% to $28 billion, Saudi Arabia’s travel surplus remains robust, reflecting the Kingdom’s efforts to boost its hospitality and tourism sectors.
Uber and WeRide partner with Dubai’s RTA to bring autonomous vehicles to Dubai
Dubai is taking major strides in its self-driving transport ambitions, with Uber and WeRide partnering with the Dubai Road and Transport Authority (RTA). The collaboration will introduce autonomous vehicles (AVs) to the city, aligning with the RTA’s goal to convert 25% of all journeys to autonomous trips by 2030.
The first step of this project will see WeRide, a leading autonomous vehicle technology provider, working alongside Uber to make these AVs a seamless part of daily life in Dubai.
The partnership will involve pilot programs to test autonomous vehicles, exploring aspects like safety protocols, data insights, and regulatory frameworks. This project is part of Dubai’s larger smart city and future transport initiatives, cementing the city’s position as a leader in autonomous mobility.
Abu Dhabi approves $1.8bn housing benefits package for citizens
Abu Dhabi is making headlines with a major housing initiative aimed at enhancing the living standards of its citizens. A housing benefits package worth AED6.75 billion ($1.8 billion) has been approved for over 4,300 Emirati citizens.
This package includes housing loans, land grants, and exemptions from loan repayments for senior citizens and low-income retirees.
| Housing Benefits Package | Details |
| Total value | AED6.75 billion ($1.8 billion) |
| Number of beneficiaries | 4,356 Emirati citizens |
| Housing loans | AED5.08 billion ($1.4 billion) for 3,172 citizens |
| Land grants and ready-built houses | AED1.585 billion ($432 million) for 1,100 citizens |
| Exemptions | Loan repayment exemptions for 84 senior citizens and low-income retirees |
The initiative is part of a broader effort by the leadership to ensure the well-being and social stability of Emirati families. It also reflects the government’s commitment to the goals of the Year of Community initiative, which aims to enhance social cohesion and promote stability within the UAE.
Conclusion
As we move through April, these developments in the UAE and surrounding regions are a testament to the ambition and growth of the Middle East. From the upcoming launch of the Digital Dirham to Dubai’s drive for autonomous vehicles and Saudi Arabia’s tourism success, these changes are setting the stage for a more innovative and connected future.
The UAE, in particular, continues to lead in innovation within the financial sector and mobility, while Saudi Arabia’s increasing travel surplus highlights the strength of its economy beyond oil. As the region continues to evolve, both investors and residents can look forward to a future filled with new opportunities.
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