The Central Bank of the UAE (CBUAE) has unveiled a new symbol for the national currency, the dirham, aiming to enhance its global recognition and support the nation’s financial infrastructure transformation. This move aligns with the UAE’s recent adherence to the FX Global Code, reinforcing its commitment to international financial standards.
The new dirham symbol, derived from the English letter “D” with two horizontal lines, represents the currency’s stability and is inspired by the UAE flag. It will be used in both physical and digital contexts, reflecting the country’s shift towards a digital economy.
In parallel, the CBUAE announced progress on the Digital Dirham initiative, a central bank digital currency (CBDC) strategy launched in 2023. The Digital Dirham aims to enhance payment systems by leveraging blockchain technology, facilitating tokenisation, and integrating smart contracts. These advancements are expected to improve financial inclusion and reduce transaction costs. The retail issuance of the Digital Dirham is anticipated in the last quarter of 2025.
The UAE’s recent signing of the Statement of Commitment to the FX Global Code positions it as the first central bank in the Arab world to adopt this set of global principles for the foreign exchange market. This adherence underscores the UAE’s dedication to promoting integrity, transparency, and fairness in its financial markets.
CBUAE Governor Khaled Mohamed Balama stated that these initiatives reflect the UAE’s ambition to be a leading global financial hub, emphasising that the Digital Dirham will accelerate digitalisation and promote financial inclusion.
