The Dirham — the UAE’s official currency which has been in existence since 1973 — now has a new symbol as part of a new digital push. The Central Bank of the UAE (CBUAE) revealed on Thursday the new currency symbol as part of a broader effort to strengthen the UAE’s position as a leading global financial hub. The updated symbol draws from the English name “Dirham,” with two horizontal lines representing the currency’s stability, reflecting elements of the UAE flag. For the digital version, the symbol is enclosed in a circle with the national flag’s colours: an emblem meant to underscore national pride and the country’s forward-looking financial vision. The move coincides with the CBUAE’s accession to the FX Global Code, making it the first central bank in the Arab region to join the voluntary code that promotes fair and transparent practices in the foreign exchange market. The new symbol and digital developments reflect efforts to raise the Dirham’s international profile, especially as digital finance gains pace. As part of the broader Financial Infrastructure Transformation (FIT) programme launched in 2023, the CBUAE is preparing for the phased issuance of the Digital Dirham. Legally recognised as a universal payment instrument […]