Dirham takes a quantum leap

The United Arab Emirates (UAE) currency, the dirham, has acquired a symbol of its own, the English letter D with two horizontal lines across it, symbolising stability. According to Emirates News Agency, WAM, “The design is also a nod to the UAE flag, symbolising national pride and resilience.” It has also become a digital currency, and the symbol is that of the dirham’s new symbol. D crosses with two parallel rows in circle in the national colours of green, red, and black.

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This double development reflects the UAE as an important global financial market with a visible symbol of its own as well as digital presence and a digital symbol.

The central bank of the United Arab Emirates (CBUAE) plans to launch the digital dirham is part of the Financial Infrastructure Transformation Programme launched in 2023. CBUAE governor Khaled Mohamed Balama said, “We are proud to unveil today the new symbol for the UAE’s national currency and the design of the digital dirham wallet.”

He also explained the importance of digital dirham: “The digital dirham, based on blockchain technology, is expected to enhance financial stability, improve inclusion, increase resilience, and help combat financial crime.”