Reliance Retail chain rolls out support for CBDC payments in stores
Reliance Retail, one of the largest retail chains in India, has begun taking the nation’s CBDC digital rupee at a select number of its locations and intends to expand the rollout to all of its establishments. According to a Tech Crunch story, Reliance Retail’s gourmet shop bran d, Freshpik, has already pushed out support for […]
Saudi Arabia continues CBDC research with no deployment plans
The Saudi Central Bank (SAMA) continues to explore and research use cases of central bank digital currencies (CBDCs), however, there has been no plan for deployment yet. The bank said it was working on a phase of a project that “focuses on domestic wholesale CBDC use cases in conjunction with local banks and fintechs” in […]
Turkey completes first Central Bank Digital Currency (CBDC) test
The Central Bank of the Republic of Turkey (CBRT) has recently completed the first experiment of its central bank digital currency (CBDC), the Digital Turkish Lira, and intends to carry out more trials in 2023. In a statement issued on December 29, the CBRT claimed that it had successfully completed its “first payment transactions” utilizing […]
Nigeria bans ATM cash withdrawals over $225 (₦100,000) weekly
The Central Bank of Nigeria has limited the amount of cash that people and companies may withdraw in order to boost the usage of the eNaira, Nigeria’s Central Bank Digital Currency (CBDC). In a circular sent to financial institutions on December 6, the Central Bank of Nigeria said that individuals and companies would henceforth be […]
Iran to freeze bank accounts of women who refuse to wear hijab
According to a member of the Iranian parliament, the administration intends to introduce additional penalties for women who choose not to cover their heads in public, after receiving two warnings their bank accounts would be frozen. According to Hossein Jalali, a member of the Islamic Consultative Assembly’s Cultural Commission, “unveiled individuals” will first get an […]