By Staff Reporter
Abu Dhabi: The Central Bank of the UAE (CBUAE) unveiled a new symbol for the country’s national currency, the Dirham, as part of efforts to strengthen the UAE’s position as a global financial hub.
New Identity
The new Dirham symbol, derived from the English letter “D,” includes two horizontal lines representing financial stability and is inspired by the UAE flag. It will be used internationally to promote the UAE’s currency in global markets.
Additionally, the Digital Dirham— the digital version of the currency— will feature a circular design incorporating the UAE flag’s colors to symbolize national pride and modern financial evolution.
Digital Dirham Progress
The CBUAE also provided updates on the Digital Dirham, a key part of its Financial Infrastructure Transformation (FIT) Programme launched in 2023. Expected to roll out in late 2025 for the retail sector, the Digital Dirham aims to enhance financial efficiency and security. Built on blockchain technology, it will reduce transaction costs and improve data privacy and risk management.
Licensed financial institutions, including banks, exchange houses, finance companies, and fintech firms, will facilitate access to the Digital Dirham. It will be legally recognized as a universal payment method alongside physical currency.
Key Features of the Digital Dirham
The Digital Dirham will incorporate advanced financial technologies to drive innovation and financial inclusion, including:
Tokenisation – Enabling fractional ownership of digital assets, improving liquidity.
Smart Contracts – Allowing automated execution of complex financial transactions, ensuring instant settlement and compliance with predefined conditions.
Integrated Digital Payment Platform
To support the Digital Dirham, the CBUAE has developed a secure platform featuring a Digital Dirham wallet. This system will enable various transactions, including retail, wholesale, and cross-border payments, as well as money transfers, withdrawals, and top-ups. The platform is designed to integrate with new financial solutions as the UAE’s digital economy evolves, reinforcing the country’s role as a leader in global digital payments.
Khaled Mohamed Balama, Governor of the CBUAE, emphasised the importance of these initiatives, stating: “We are proud to introduce the new Dirham symbol and the Digital Dirham wallet, marking a significant milestone in the UAE’s financial sector. This step brings us closer to realizing our vision for a secure, efficient, and innovative financial ecosystem.”
He further highlighted that the Digital Dirham’s blockchain-based infrastructure will enhance financial stability, inclusion, and resilience while combating financial crimes. It is also expected to reduce costs, foster innovation, and improve access to international markets.
