(Ecofin Agency) - During a TV programme aired by national channel RTD, it was revealed that the Central Bank of Djibouti (BCD) will launch in the coming days its digital currency.

“According to the apex bank’s governor, Ahmed Osman Ali, the project falls in the framework of a plan to modernize Djibouti’s financial system with the support of World Bank,” Xinhua reported.

“With the digital currency, the Djibouti Republic will fully take advantage of technological innovation,” the official said.

Truly, the project should help the country modernize its payment system with the introduction of renowned electronic technologies (mobile banking, mobile money, e-banking, electronic checks and wire transfers, virtual clearing house, etc.).

Amongst other advantages of the digital currency is the creation of a partial guarantee fund, the bolstering of SMEs and SMIs by providing them more loans, the establishment of national sharia committee to monitor Islamic finance activities, the Chinese website revealed.

Fiacre E. Kakpo