ABU DHABI: The Central Bank of the UAE (CBUAE) has unveiled a new symbol for the UAE Dirham, marking a significant milestone in the nation’s financial evolution. This move aligns with the UAE’s recent entry into the FX Global Code, reinforcing its status as a global financial hub.
The CBUAE also announced the ongoing development of the Digital Dirham, a major initiative under its Financial Infrastructure Transformation (FIT) Programme. Set for release in late 2025, this digital currency will operate alongside physical cash, backed by blockchain technology to enhance security, efficiency, and transparency in financial transactions.
New Dirham symbol and global recognition
The newly introduced Dirham symbol is inspired by the UAE flag, featuring two horizontal lines that symbolise the currency’s stability. A variation for the Digital Dirham incorporates a circular design, representing innovation and global integration. This development is part of the UAE’s effort to elevate the Dirham’s international standing.
By joining the FX Global Code, the CBUAE has become the first central bank in the Arab region to commit to ethical and transparent foreign exchange practices. This step aims to boost investor confidence and promote fair currency exchange regulations.
Digital Dirham: revolutionising payments
The Digital Dirham will offer secure and low-cost transactions through blockchain technology, ensuring seamless financial operations. It supports smart contracts for automated payments and tokenisation for digital asset management. Individuals and businesses can access it via licensed financial institutions.
To facilitate widespread adoption, the CBUAE has introduced an integrated platform and digital wallet, simplifying money transfers, payments, and international transactions. This aligns with the UAE’s vision of becoming a leading global digital payments hub.
