Central Banking

UAE’s central bank connects RTGS system to Swift tool

Central Bank of the UAE
Photo: Achilver/Wikimedia Commons

The Central Bank of the United Arab Emirates has connected its real-time gross settlement (RTGS) system to a new ‘tracker’ tool designed by payments consortium Swift.

In a statement published on May 5, the CBUAE said it was the first central bank to implement such an initiative. The central bank has integrated its domestic RTGS system, the UAE funds transfer system, with Swift’s global payments innovation (GPI) tracker.

Swift launched its GPI tracker in 2017. It uses a cloud-based database to

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