UAE Introduces New Dirham Symbol for Physical and Digital Use
The Central Bank of the UAE (CBUAE) has introduced a new symbol for the Dirham, aimed at enhancing the nation’s status as a global financial hub.
This initiative aligns with the UAE’s commitment to the FX Global Code and supports the ongoing development of the Digital Dirham.
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The new symbol, inspired by the letter “D” and featuring two horizontal lines to signify financial stability, draws elements from the UAE flag. It will be used internationally to promote the Dirham in global markets.
In conjunction with the new symbol, the CBUAE provided an update on the Digital Dirham, which is set to launch in late 2025.
This digital currency, built on blockchain technology, aims to improve financial efficiency and security, reduce transaction costs, and enhance data privacy.
Licensed financial institutions, including banks and fintech firms, will facilitate access to the Digital Dirham, which will function as a universally accepted payment method alongside traditional currency.
Khaled Mohamed Balama, Governor of the CBUAE, highlighted the significance of these developments in creating a secure and innovative financial ecosystem.
The Digital Dirham will also feature advanced technologies such as tokenization and smart contracts, promoting financial inclusion and innovation.
These advancements further solidify the UAE’s position as a leader in digital financial transformation, reinforcing its reputation as a prominent financial and technological center.
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