UAE Introduces New Symbol for Dirham Currency | Download Here
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The Central Bank of the United Arab Emirates (CBUAE) has unveiled a new symbol for the dirham as part of efforts to strengthen its recognition on an international level.
The new symbol is inspired by the English letter "D" and includes two horizontal lines, symbolizing the stability of the UAE dirham and drawing inspiration from the national flag.
Alongside the introduction of this symbol, the CBUAE also announced progress in the issuance and circulation of the Digital Dirham. This initiative, which is part of the Financial Infrastructure Transformation (FIT) Programme launched in 2023, aims to integrate digital currency into mainstream financial transactions. The Digital Dirham will be recognized as legal tender across all payment outlets and platforms, ensuring seamless transactions in both physical and digital formats.
Khaled Mohamed Balama, Governor of the CBUAE, highlighted the significance of this development, emphasizing that the blockchain-based Digital Dirham will enhance financial stability, inclusion, and resilience while playing a crucial role in combating financial crime. Additionally, the initiative is expected to foster innovative digital financial services, reduce transaction costs, and expand access to global markets.
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