The Central Bank of the UAE (CBUAE) has unveiled a new symbol for the UAE Dirham (AED), signaling a step forward in the country’s mission to enhance its financial standing globally.
This initiative, supported by His Highness Sheikh Mansour bin Zayed Al Nahyan, aligns with the UAE’s vision of becoming a leading global financial hub.
Alongside the symbol’s unveiling, CBUAE also provided an update on the Digital Dirham project, which is part of the broader Financial Infrastructure Transformation (FIT) Programme launched in 2023. The Digital Dirham is a digital version of the UAE’s national currency, aimed at increasing the nation’s leadership in financial innovation.
New symbol reflects stability and global reach
The new Dirham symbol was carefully designed to represent the UAE’s stability and ambition. It incorporates two horizontal lines, inspired by the UAE flag, symbolizing the Dirham’s strong foundation. The digital version features a circle around the symbol, incorporating the colors of the UAE flag to express national pride and global aspiration.
This rebranding of the Dirham comes as the CBUAE also becomes the first central bank in the Arab world to join the FX Global Code, further establishing the Dirham as a global currency and ensuring ethical practices in foreign exchange markets.
Digital Dirham:
The Digital Dirham, based on blockchain technology, promises several advantages, such as enhanced security, lower transaction costs, and improved efficiency. It will be available through licensed financial institutions starting in late 2025, aimed at both individuals and businesses.
Key benefits of the Digital Dirham include:
Tokenisation: Boosting financial inclusion by enabling fractionalisation of digital assets.
Smart Contracts: Automating and instantly settling complex transactions across multiple parties.
A secure platform, including a user-friendly wallet, will facilitate easy transactions for retail, wholesale, and cross-border payments, while ensuring the UAE remains competitive in the global digital economy.
Governor of the CBUAE, Khaled Mohamed Balama, emphasized that the Digital Dirham will enhance financial stability, foster innovation, and help combat financial crimes, marking a major milestone in the country’s financial evolution.
