On June 22, Qatar Central Bank (QCB) made an official announcement on their plan to launch their own Central Bank Digital Currency (CBDC). The decision was made after consultation with representatives from Qatar Finance, Economy and Trade, the Central Bank of Qatar, the Ministry of Finance and Development Planning.
CBDCs are a programme that permits the world’s largest central banks, including the American, Russian, and Arab banks, to participate in the technology but under their own standards. They are currencies that have a 1:1 parity with the national currency, in this instance, the Qatari Riyal.
The initiative is in its early stages, according to the central bank’s Governor, Sheikh Bandar bin Mohammed bin Saoud Al Thani QCB, and is seeking for the right technology and platform.
The Governor spoke at the Qatar Economic Forum in a session titled “The Inflation Test.” He said that various central banks, including Qatar Bank, are now contemplating issuing CBDC. They are now reviewing the benefits and drawbacks of issuing CBDC.
Qatar would be among the last nations to propose establishing a CBDC, despite the fact that it has significant rivals looking to capitalise on blockchain technology.
 made an official announcement on their plan to launch their own Central Bank Digital Currency (CBDC).){kind=link}