The Central Bank of the UAE unveiled today the new symbol for the UAE’s national currency, the Dirham. The unveiling of the new Dirham symbol comes in conjunction with the CBUAE’s recent joining to the FX Global Code, becoming the first central bank in the Arab region to do so.
The new symbol contributes to the central bank’s efforts to establish the UAE Dirham as an international currency, along with enhancing the integrity and best practices in the exchange market of the national currency against foreign currencies and promoting ethical practices and sound professional rules for its participants.
“We are proud to unveil today the new symbol for the UAE’s national currency the Dirham, in both its physical and digital forms, and the design of the Digital Dirham wallet. This reflects the significant advancements in the implementation of the Digital Dirham program and a leap towards realising the CBUAE’s vision,” stated Khaled Mohamed Balama, governor of the CBUAE.
Inspiration for the new Dirham symbol
The new Dirham symbol is a culmination of the UAE’s rich cultural heritage and its vision for a modern and innovative financial ecosystem. For the physical symbol, the central bank chose the letter “D” to serve as an international symbol representing the nation’s currency, incorporating two horizontal lines that embody the stability of the UAE Dirham. The design is also inspired by the UAE flag, which represents the country’s national identity and pride.
On the other hand, the Digital Dirham symbol features a circle surrounding the physical currency symbol, using the colors of the UAE flag to reflect pride and national identity. The release is a testament to the UAE’s commitment to financial innovation, digital transformation and economic leadership.
CBUAE to issue Digital Dirham this year
The central bank also announced the progress of the Issuance and Circulation of the Digital Dirham, a key initiative of the Financial Infrastructure Transformation (FIT) Program launched by the CBUAE in 2023, aiming to bolster the UAE’s position as a pioneer in financial market infrastructure and a destination for excellence in financial products innovation and digitalization.
The CBUAE will issue the Digital Dirham as a digital version of the UAE’s national currency. The digital currency is characterized by high levels of security and efficiency, contributing to reduced costs of payments through its reliance on blockchain technology, which by its technical design ensures effective risk management, data protection and privacy and atomic transaction completion.
Individuals and businesses will be able to obtain the Digital Dirham through licensed financial institutions, such as banks, exchange houses, finance companies and fintech companies. The issuance of the Digital Dirham is expected to take place in the last quarter of the year 2025 for the retail sector.
“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. It will further enable the development of innovative digital products, services, and new business models while reducing cost and increasing access to international markets,” added Balama.
Digital Dirham wallet
The CBUAE has also developed an integrated and secure platform for the issuance, circulation and use of the Digital Dirham, including a Digital Dirham wallet. The wallet is designed for ease of use and management by both individuals and businesses, enabling a number of financial transactions, including retail, wholesale, and cross-border payments; money transfers and withdrawals; top-ups; and redemption of the Digital Dirham when needed.
This ensures a seamless and convenient user experience, in line with industry best standards and practices. The platform also offers the ability to easily incorporate innovative financial solutions tailored to emerging use cases driven by the rapid growth of the digital economy in the UAE. This contributes to ensuring a flexible and advanced financial system, further solidifying the UAE’s competitive edge as a leading financial hub and global digital payments platform.
Read: UAE central bank issues new AED100 polymer banknote with advanced security features
Digital forms and implementation
The Digital Dirham is a digital version of the UAE’s national currency, designed for enhanced security and efficiency. Utilizing blockchain technology, the Digital Dirham aims to lower payment costs while ensuring robust risk management, data protection and seamless transaction execution.
Individuals and businesses will be able to access the Digital Dirham through licensed financial institutions, including banks, exchange houses, finance companies and fintech firms. The retail sector rollout of the Digital Dirham is expected in the last quarter of 2025. The Digital Dirham wallet enables a range of financial transactions, such as retail, wholesale, cross-border payments, money transfers, withdrawals, top-ups and redemptions.
Currency symbol and economic impact
The new Dirham symbol is expected to have a significant impact on the UAE’s economy, promoting financial stability, inclusion and resilience. As a key component of the UAE’s strategy to foster financial inclusion and innovation, the symbol is set to strengthen the UAE’s position as a leading global financial hub.
The Digital Dirham, recognized as a universal payment instrument and legal tender across all payment outlets and channels, complements the physical currency. The new Dirham symbol, an international symbol representing the UAE Dirham, is anticipated to enhance the country’s status on the global financial stage. By driving innovation and financial inclusion, the Digital Dirham is integral to the UAE’s vision for a modern, innovative financial ecosystem.
