Commercial Bank of Dubai (CBD) Completes Wholesale Digital Dirham Transaction With Bank of China Through UAE's Jisr

Commercial Bank of Dubai (CBD) has completed a bilateral wholesale Digital Dirham transaction with Bank of China through the Central Bank of the UAE’s (CBUAE) Jisr platform, marking a new milestone in the development of cross-border central bank digital currency payments between the UAE and China.

Announced on November 10, the transaction involved both banks sending and receiving wholesale UAE Digital Dirham through the platform. It demonstrated their ability to process a transaction end-to-end, from initiation to settlement, using the CBUAE's infrastructure.

The development builds on CBD's earlier participation in the central bank's cross-border wholesale CBDC initiatives and represents further progress in its involvement in the UAE's Digital Dirham programme.

Jisr Advances Cross-Border CBDC Connectivity

The Jisr platform is designed to support cross-border central bank digital currency settlement through bilateral connections between the UAE and participating markets.

CBD's latest transaction with Bank of China demonstrates how the infrastructure can facilitate wholesale Digital Dirham transfers between financial institutions, supporting the development of payment capabilities linking the two markets.

While the announcement marks a completed transaction, the broader initiative remains part of the CBUAE's ongoing efforts to develop cross-border Digital Dirham use cases and strengthen the UAE's financial infrastructure.

The Digital Dirham is a central component of the CBUAE's Financial Infrastructure Transformation Programme, which aims to accelerate the digital transformation of financial services across the country.

For CBD, participation in the programme also aligns with its corporate payments strategy, which focuses on strengthening international connectivity and contributing to next-generation financial infrastructure.

CBD Highlights Its Role in the Digital Dirham Programme

Dr. Bernd van Linder, CEO of Commercial Bank of Dubai, said the bank's participation reflects its long-term commitment to supporting the CBUAE's vision for a modern, secure and innovative financial ecosystem.

By contributing its banking expertise, CBD aims to help develop cross-border payment capabilities and support the UAE's continued growth as a global trade and financial hub, he added.

Vladislavs Mironovs, CBD's chief digital officer, said the successful transaction with Bank of China demonstrates the bank's ability to execute cross-border Digital Dirham payments through Jisr.

He added that the bank would continue contributing to the development of new cross-border Digital Dirham use cases.

CBD said it would maintain its cooperation with the CBUAE, Bank of China and other partners to support the development of the Digital Dirham ecosystem in line with applicable regulatory requirements.

A Further Step in the UAE's Digital Currency Strategy

The transaction adds to the UAE's efforts to explore how central bank digital currencies can support international payments and settlement between financial institutions.

By enabling wholesale Digital Dirham transfers through a dedicated cross-border platform, the initiative highlights the role of bilateral banking connectivity in developing digital currency infrastructure.

The next phase will depend on continued cooperation between central banks, commercial banks and participating financial institutions as they explore practical applications for CBDCs.

For the UAE, the initiative forms part of a wider strategy to modernize financial services and strengthen its position as an international centre for financial innovation.