Palestine is looking to launch central bank digital currency

Following Israel’s recent tests of a digital shekel, the Palestinian Monetary Authority is looking to launch its own central bank digital currency, according to a Bloomberg report.

  • Bound by 1990s accords with Israel, Palestine does not have a currency of its own. Instead, the Israeli shekel serves as the de facto currency, alongside the Jordanian dinar and the U.S. dollar.
  • The governor of the Palestine Monetary Authority told Bloomberg Television that two feasibility studies on the idea of a Palestinian CBDC were under way, with the goal of using a future digital currency “for payment systems in our country and hopefully with Israel and others.”

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