UAE unveils new currency symbol in Digital Dirham push

The Central Bank of the UAE (CBUAE) has unveiled a new currency symbol as it prepares to launch the Digital Dirham, its blockchain-based central bank digital currency (CBDC), in late 2025.

This development marks a major milestone in the country’s push to strengthen its position in global financial markets and advance its digital currency ambitions.

The new symbol—derived from the English abbreviation for the Dirham and featuring two horizontal lines to signify monetary stability—will represent the currency in both physical and digital formats. This step supports the UAE’s goal of making the Dirham a credible option for cross-border trade and financial settlement.

UAE First to Adopt FX Global Code

The announcement aligns with the CBUAE’s formal adherence to the FX Global Code, a global initiative aimed at promoting integrity and transparency in foreign exchange markets. The UAE is the first central bank in the Arab region to adopt the code, a move expected to boost investor and trader confidence in the Dirham.

To support the rollout of the Digital Dirham, the CBUAE has also developed an integrated platform and digital wallet accessible through licensed banks, exchange houses, and fintech firms.

“The new symbol and the design of the Digital Dirham wallet reflect the significant advancements in the implementation of our digital currency programme,” said Khaled Mohamed Balama, Governor of the CBUAE. He emphasized the initiative’s goals of enhancing financial inclusion, lowering transaction costs, and enabling the creation of new digital financial products and business models.

Digital Dirham to Support E-Transactions

The Digital Dirham will support advanced functionalities such as tokenisation, smart contracts, and instant settlement. It is being developed under the Financial Infrastructure Transformation (FIT) Programme, launched in 2023, and backed by new legislation confirming its legal tender status alongside traditional currency.

Analysts view the initiative as part of a broader national strategy to establish the UAE as a regional fintech leader and a global financial hub by embracing digital transformation in financial infrastructure.