Saudi Arabia and UAE will launch their own digital currencies which are called CBDC and it's approved by the central bank. Both the countries have decided to bring out a working CBDC since most other countries are also working on it. The CBDC project will be called "Aber" and they are currently running tests. Both Saudi Arabia and UAE relied on oil for generating revenue but that's no longer true since new oil reserves have been found in the US. This is the reason why both the countries are trying to improve their technology and launch a CBDC hoping for a better future.
