UAE Unveils New Currency Symbol for the Dirham

The UAE Dirham gets a new symbol. The Central Bank of the UAE (CBUAE) revealed this new symbol on Thursday. By the end of 2025, the UAE is expected to launch its government-backed digital currency as per the Central Bank (CBUAE).

This new development has given a new appearance to Dirham. This digital version basically features a flag-colored circle, reflecting the country’s vision for financial strength and innovation. This official symbol brings the Dirham in line with other globally recognized currencies, such as the Euro (€) and the Dollar ($), enhancing the presence of the Dirham.

Khaled Mohamed Balama, The Central Bank Governor, said this Digital Dirham “will enhance financial stability, fight financial crime, and boost international trade.” He further added, “It is anticipated that the Digital Dirham as a blockchain-based platform with cutting-edge capabilities shall substantially enhance financial stability, inclusion, resilience, and combatting financial crime.”

He is of the view that the introduction of digital currency will foster the growth of innovative financial products and services and also pave the way for new business opportunities while reducing costs and improving access to global markets.

Experts are of the view that this new symbol is an effort to merge tradition and innovation and also it reflects the UAE’s dynamic financial landscape. This development happens at a time when the UAE’s fintech sector continues its strong growth, where startups raised $1.2 billion across 155 transactions in 2022. In addition to that, the scope of the banking system of the UAE is also expanding, exceeding Dh500 billion in capital and reserves in November 2024.