UAE UNVEILS NEW SYMBOL FOR ITS DIRHAM CURRENCY

Fri 28 March 2025:

The Central Bank of the UAE (CBUAE) unveiled the new symbol for the UAE’s national currency, the ‘dirham’, yesterday, the official news agency WAM reported.

The unveiling of the new dirham symbol, WAM reported, “comes as part of the CBUAE’s efforts to establish the UAE Dirham as an international currency.”

“The letter was chosen, derived from the English name of the Dirham, to serve as an international symbol representing the nation’s currency, incorporating two horizontal lines that embody the stability of the UAE Dirham and inspired by the UAE flag, to enhance financial and monetary stability.”

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The CBUAE also announced the progress of the Issuance and Circulation of the Digital Dirham, a key initiative of the Financial Infrastructure Transformation (FIT) Programme launched by the CBUAE in 2023. Changes mean the Digital Dirham will be accepted as a universal payment instrument (legal tender) in all payment outlets and channels alongside physical currency.

The CBUAE issues the “Digital Dirham” as a digital version of the UAE’s national currency. The symbol for the Digital Dirham was also unveiled, and features a circle surrounding the physical currency symbol, using the colours of the UAE flag.

Individuals and businesses will be able to obtain the Digital Dirham through licensed financial institutions, such as banks, exchange houses, finance companies and fintech companies

Khaled Mohamed Balama, Governor of the CBUAE, said: “We are proud to unveil today the new symbol for the UAE’s national currency the ‘Dirham’ in both its physical and digital forms, and the design of the Digital Dirham wallet. This reflects the significant advancements in the implementation of the Digital Dirham programme and a leap towards realising the CBUAE’s vision.”

He added, “It is anticipated that the Digital Dirham as a blockchain based platform with cutting edge capabilities shall substantially enhance financial stability, inclusion, resilience, and combatting financial crime. It will further enable the development of innovative digital products, services, and new business models, while reducing cost and increasing access to international markets.”

-MEMO

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