Saudi Arabian Monetary Agency (SAMA) is considering launching its own digital currency

The Saudi Arabian Monetary Agency (SAMA) has unveiled a pilot project in which the institution will issue a digital currency that will be traded only between banks to avoid any economic impact in Saudi Arabia.

This came during a press conference held by SAMA Governor Ahmed Al-Khulaifi on Wednesday at the headquarters of the Monetary Authority in Riyadh on the occasion of the issuance of the Foundation's 53rd annual report on the economic and financial developments in the Kingdom in 2017.

SAMA assesses the positive side of digital currencies
At the same time, SAMA will assess the positive aspects of the experiment and consider whether it will continue or stop, Al-Khulaifi said.