The Central Bank of the UAE (CBUAE) has unveiled a new symbol for the UAE Dirham, reinforcing the nation’s vision of becoming a global financial hub.
The initiative aligns with the directives of His Highness Sheikh Mansour bin Zayed Al Nahyan and aims to enhance the Dirham’s international recognition.
The new symbol, inspired by the UAE flag, incorporates two horizontal lines representing financial stability. A distinct variant for the Digital Dirham features a circular design in the UAE’s national colors, reflecting the currency’s modern evolution.
Alongside this, the CBUAE announced the progress of the Digital Dirham, a key element of the Financial Infrastructure Transformation (FIT) Programme launched in 2023. Set for retail issuance in late 2025, the Digital Dirham will be legally accepted across all payment channels. Backed by Federal Decree-Law No. (54) of 2023, it will function as a secure and efficient blockchain-based payment instrument.
The Digital Dirham will offer advantages such as tokenization for improved liquidity, smart contracts for automated transactions, and robust security measures to protect user data. It will be accessible through licensed financial institutions, enabling seamless transactions for individuals and businesses.
Additionally, the CBUAE has developed an integrated digital wallet to facilitate various financial activities, including payments, transfers, and redemptions. The platform is designed to support emerging digital financial solutions, ensuring flexibility and innovation in the UAE’s growing digital economy.
Khaled Mohamed Balama, Governor of the CBUAE, emphasized that the Digital Dirham will enhance financial stability, inclusion, and international market access while reducing transaction costs and combating financial crime.
With these advancements, the UAE continues to position itself at the forefront of financial innovation, further strengthening its status as a global digital payments leader.
News Source: Emirates News Agency
