In a historic leap toward financial innovation, the United Arab Emirates (UAE) has achieved a landmark moment with the completion of the first cross-border payment using the digital dirham. This pioneering initiative, led by the UAE’s central bank, exemplifies the nation’s commitment to advancing its financial infrastructure through the integration of cutting-edge digital currency technologies. […]
BRICS to ditch U.S. Internet services
BRICS Nations Consider Shifting Away from US Internet Services: A Strategic Move for Digital Independence Introduction In a bold move that reflects a desire for increased autonomy and reduced reliance on the United States, the BRICS nations—Brazil, Russia, India, China, and South Africa—are contemplating a significant shift away from US-based internet services. This move, driven […]
HSBC and Amanah Group Revolutionise London and Dubai’s Gold Markets with Blockchain Technology
In a simultaneous move towards innovation, HSBC and the Amanah Group have independently embarked on groundbreaking initiatives to transform the way gold is traded in London and Dubai. Both financial powerhouses are set to introduce blockchain technology into their respective gold trading centers, heralding a new era of digital gold trading. HSBC’s Vision for Modernizing […]
“Read all about it!” BRICS Launches BRICS Pay System: A Bold Move to Challenge the US Dollar Dominance
In a significant move aimed at reshaping the global financial landscape, the member countries of BRICS – Brazil, Russia, India, China, and South Africa – have announced the launch of the BRICS Pay system. This strategic initiative seeks to challenge the long-standing dominance of the US dollar in international trade and finance. As these emerging […]
Mufti Asim Patel appointed as the Head of the Islamic Monetary Council
Who is Mufit Asim Patel? Mufti Asim Patel is a highly esteemed Islamic scholar hailing from South Africa. His journey in the pursuit of Islamic knowledge commenced at a young age, demonstrating his deep passion and dedication. Mufti Asim embarked on his academic endeavors at Darul-Uloom Zakariyya – SA, where he completed his Hifdh (memorisation […]
Banking Giant Citigroup Launches Private Blockchain to Transform Client Deposits into Digital Tokens
In a significant move towards embracing blockchain technology, Citigroup, one of the world’s leading banking institutions, has unveiled plans to launch a private blockchain platform. This innovative platform aims to revolutionize the way client deposits are handled, by transforming them into digital tokens. The development signals a growing interest among financial institutions to harness […]
The End of DeFi in the US: Regulatory Challenges and Uncertainties
Decentralized Finance (DeFi), the revolutionary financial ecosystem built on blockchain technology, has faced a tumultuous journey in the United States. In recent times, it seems that the era of unrestricted DeFi innovation in the US is coming to an end, primarily due to mounting regulatory challenges and uncertainties. The Rise of DeFi DeFi emerged as […]
Ripple Wins Verdict: XRP Declared ‘Not a Security’.
Introduction In a landmark decision, Ripple, the San Francisco-based technology company specialising in digital payments, has emerged victorious as XRP, its native cryptocurrency, has been declared not a security by the court. This ruling has significant implications for Ripple and the broader cryptocurrency industry. In this article, we will delve into the details of the […]
The Head of the International Monetary Fund (IMF) Announces Development of a Global Digital Currency
In a significant announcement that has captured the attention of the global financial community, the Head of the International Monetary Fund (IMF) has declared that the organisation is diligently working on the development of a groundbreaking single “global” digital currency. This momentous initiative is set to reshape the future of financial systems worldwide and revolutionise […]
European Investment Bank Hit by Cyber Attack: Insights and Analysis
Introduction In recent news, the European Investment Bank (EIB) fell victim to a sophisticated cyber attack. This unfortunate event has underscored the increasing threat posed by hackers and their potential to disrupt the banking and financial systems. As an industry-leading entity in the field of cybersecurity, we at [Your Company Name] aim to provide comprehensive […]