💱 UAE Central Bank Reveals Digital Dirham Symbol Ahead of 2025 Launch
🌟 The Central Bank of the UAE (CBUAE) has announced the official symbol for its upcoming Digital Dirham, which is set to be launched in retail markets by late 2025. This initiative is part of the Financial Infrastructure Transformation (FIT) Programme, aimed at positioning the UAE as a leader in financial market infrastructure and digital innovation.
💰 The Digital Dirham will be recognized as legal tender, ensuring its acceptance alongside physical currency. The CBUAE plans to utilize blockchain technology to create a secure and efficient digital currency that reduces payment costs and protects data privacy. Access to the Digital Dirham will be available through licensed financial institutions such as banks and fintech firms.
We are proud to unveil today the new symbol for the UAE’s national currency the ‘Dirham’ in both its physical and digital forms,
said H.E. Khaled Mohamed Balama, Governor of the CBUAE. He emphasized the importance of this development as a step towards realizing the CBUAE’s vision.
📱 To support the Digital Dirham, the CBUAE has created a secure platform with a user-friendly digital wallet for various financial transactions. This platform is designed to foster innovative financial solutions for the growing digital economy in the UAE.
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,
Balama added. He noted that the Digital Dirham will facilitate the development of new digital products and services while reducing costs and increasing access to international markets.
🌍 The CBUAE’s initiative aims to create a flexible and advanced financial system, strengthening the UAE’s position as a leading financial hub and a global digital payments platform.
