The UAE has once again set a new standard in currency innovation. The Central Bank of the UAE (CBUAE) has won the Best New Banknote Issue for 2025 for its Dh500 note, securing the top spot in the Europe, Middle East, and Africa region.

The award was announced during the High Security Printing EMEA conference in Basel, Switzerland, held in early February 2025.

A Design Rooted in Sustainability and Innovation

This newly recognised Dh500 Dirham is more than just currency—it’s a reflection of the UAE’s commitment to sustainability and cutting-edge technology in banking. Crafted from polymer, the note is not only more durable and longer-lasting than traditional paper notes but also fully recyclable, reducing environmental impact.

On the front side, the note showcases the Terra Sustainability Pavilion in Expo City Dubai, a symbol of the UAE’s vision for a greener future. The reverse side features the Museum of the Future, along with iconic landmarks like Emirates Towers and Burj Khalifa, emphasising the UAE’s balance between heritage and progress.

Security Features & Inclusivity

With state-of-the-art security features, including 3D designs and the region’s largest surface-applied foil stripe, the banknote is among the most secure in the world. It also incorporates Braille symbols to ensure accessibility for visually impaired individuals.

Banknotes accessible to all

Speaking about the win, Saif Humaid Al Dhaheri, Assistant Governor of Banking Operations & Support Services at CBUAE, said: “Winning this award is a testament to our dedication to sustainability and innovation. We are proud to lead the region in introducing banknotes with advanced security features and materials that minimise environmental impact. Additionally, our commitment to inclusivity ensures that our banknotes are accessible to everyone, with Braille symbols aiding visually impaired users.”

With this award, the UAE continues to strengthen its position as a global leader in financial innovation and sustainability — one banknote at a time.

(Inputs from WAM)

Ever wondered if you’re paying a fair price for groceries? The UAE government has just made it easier to keep an eye on the cost of everyday essentials with the launch of its National Digital Platform — a real-time price tracker for key consumer goods across the country.

Fair price on eggs, dairy, rice and other items

This new platform will monitor the prices of must-have grocery items like oil, eggs, dairy, rice, sugar, poultry, legumes, bread, and wheat across various retailers.

The system has been designed to ensure transparency, help officials track price changes, and prevent unfair pricing by comparing costs against official price ceilings.

Why it matters

Speaking about the initiative, Abdullah bin Touq Al Marri, UAE Minister of Economy, emphasized that this move is part of the country’s broader commitment to consumer protection, a stable market, and a thriving economy.

It also aligns with the ‘We the UAE 2031’ vision, which focuses on strengthening the nation’s economic resilience and competitiveness.

With real-time monitoring and stricter price control, this platform is set to make shopping fairer and more transparent for everyone—ensuring that prices stay reasonable and consumers get the best value for their money.

Stay tuned for more updates on how this platform will work and how shoppers will benefit from the system.

(Inputs from WAM)

If you’re running a business in the UAE, there’s a new rule you’ll want to know about. In a major move to keep the market fair and open for everyone, the UAE has introduced new competition regulations aimed at preventing monopolies and making sure no single company dominates an industry.

“This is an important step because of the maturity of our market,” said Abdullah Ahmed Al Saleh, Undersecretary of the Ministry during a media roundtable.

Under the Regulation of Competition federal law, any business that controls more than 40 per cent of total sales in its sector or earns over Dh300 million in revenue per year will now have to notify regulators. The idea? To stop companies from getting too big and blocking out competition, ensuring a level playing field for all businesses — big or small.

So, What Happens If a Company Hits That 40% Mark?

Once a company reports its dominant position, the Ministry of Economy has 90 days to review the case (with a possible extension of 45 days). If regulators reject the request, the company can’t move forward with business expansions, mergers, or acquisitions.

To avoid hitting roadblocks, businesses can also submit proposals to show they’re taking steps to prevent unfair competition.

Are There Any Exceptions?

“Exceptions are allowed on some conditions,” said Al Saleh. 

“One is, if the industry is owned totally by the government or if a company has a declaration from the government that this company will be exempted from the law.”

Any company which falls into a sector that has specific laws will also be exempted.  “For example, if we are talking about telecommunication, then TDRA will be the regulatory authority to implement the anti-competition in that industry,” he said. 

“In the absence of a specific sectoral law, this law will be implemented in coordination with the Ministry of Economy.”

Why Now?

“We first introduced an anti-competition law in 2012, but some sectors were excluded. Now, all industries are covered. Plus, we needed to keep up with advancements in technology and the digital economy,” Al Saleh said.

By setting clear limits on market dominance, the UAE hopes to create a more balanced business environment where startups and new businesses have a fair shot at success.

With over 1.1 million companies and economic institutions in the UAE, this law is expected to shake up the market—making it fairer, more competitive, and more welcoming for new players.

So, if you’re running a business in the UAE, it’s time to pay attention to these new rules—because fair competition just became the new normal!

(Inputs from Khaleej Times)