Business

UAE Central Bank unveils new symbol for Dirham

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1 year ago

March 27, 2025

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The Central Bank of the UAE (CBUAE) has introduced a bold new symbol for the Dirham, reinforcing the nation’s financial identity and its position as a global economic powerhouse. This move, driven by the vision of Sheikh Mansour bin Zayed Al Nahyan, aligns with the UAE’s push for modernisation and digital transformation.

But that’s not all, the Digital Dirham is here. As part of the Financial Infrastructure Transformation (FIT) Programme, the CBUAE has announced major steps in rolling out the blockchain-based digital version of the Dirham, set to revolutionize financial transactions across the nation.

What’s Changing?

Dirham’s New Look – A fresh, modern currency symbol inspired by the English name “Dirham,” featuring two horizontal lines representing stability and the UAE flag’s elements.

The Digital Dirham Arrives – A secure, blockchain-powered digital currency that will be legally recognised alongside physical cash and accepted everywhere by 2025.

Smart, Secure & Cost-Effective – The Digital Dirham lowers transaction costs, enhances privacy, and ensures faster payments through smart contracts and tokenisation.

Seamless Wallet & Transactions – A new Digital Dirham wallet will allow users to make retail, wholesale, and cross-border payments, money transfers, top-ups, and more—securely and efficiently.

Big Financial Move on the Global Stage

The CBUAE is making history as the first Arab central bank to join the FX Global Code, a move that strengthens the Dirham’s position as a trusted international currency.

Khaled Mohamed Balama, Governor of the CBUAE, said, “We are proud to unveil today the new symbol for the UAE’s national currency, the ‘Dirham” in both its physical and digital forms, and the design of the Digital Dirham wallet. This reflects the significant advancements in the implementation of the Digital Dirham programme and a leap towards realising the CBUAE’s vision.”

He added, “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. It will further enable the development of innovative digital products, services, and new business models, while reducing cost and increasing access to international markets.”

(Source: Wam)

Related Topics:currency digitalcurrency dirham newsymbol symbol uae

Michael Gomes

With over 35 years of experience in journalism, copywriting, and PR, Michael Gomes is a seasoned media professional deeply rooted in the UAE’s print and digital landscape.

Announcements

Small businesses in the UAE now have tax relief until 2029

Published

2 days ago

August 7, 2026

Michael Gomes

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Small businesses in the UAE with annual revenues of up to Dh3 million will continue to be eligible for Small Business Relief under the corporate tax regime until the end of 2029.

The Ministry of Finance said on Friday that Ministerial Decision No. 131 extends the period during which eligible businesses can benefit from Small Business Relief to cover tax periods ending on or before December 31, 2029.

The relief was introduced to help reduce the corporate tax compliance burden for smaller businesses and start-ups that meet the eligibility requirements.

Dh3 million threshold remains unchanged

The existing annual revenue threshold of Dh3 million, set under Ministerial Decision No. 73 of 2023, will continue to apply.

The relief applies to tax periods beginning on or after June 1, 2023 and, following the latest amendment, will remain available for subsequent tax periods ending on or before December 31, 2029.

Eligible taxable persons with annual revenue of up to Dh3 million can claim Small Business Relief, subject to meeting the conditions and requirements outlined in the corporate tax legislation.

The relief enables qualifying businesses to benefit from simplified corporate tax compliance requirements.

More time for small businesses

The extension provides eligible small businesses and start-ups with additional tax periods to benefit from the relief while continuing to meet the Dh3 million revenue threshold.

The Ministry said the decision is part of its efforts to support smaller companies and entrepreneurs, strengthen the business environment, and encourage sustainable growth and expansion.

Business

No cash? No card? No problem: Now shop at Dubai Duty Free with crypto

Published

4 days ago

August 5, 2026

Michael Gomes

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Dubai Duty Free has become the first airport retailer in the Middle East to introduce Crypto.com Pay, allowing eligible UAE residents to pay for purchases using their Crypto.com accounts.

The new payment option is now available at Dubai International Airport (DXB), Al Maktoum International Airport (DWC/AMIA) and online at Dubai Duty Free’s website.

The rollout follows a strategic partnership signed between Dubai Duty Free and Crypto.com in July 2025 and supports Dubai’s wider push towards a cashless economy under the D33 Economic Agenda.

How it works

For in-store purchases, shoppers simply select Crypto.com Pay at checkout, scan the QR code displayed at the counter using the Crypto.com app and approve the payment. The transaction is processed instantly, with Dubai Duty Free receiving settlement in UAE dirhams.

Online shoppers can also choose Crypto.com Pay during checkout, scan the QR code generated on the payment page and confirm the transaction through the Crypto.com app. Mobile users are redirected directly to the app before returning to complete their purchase.

Available for eligible UAE residents

The service is currently available to eligible UAE residents with a Crypto.com account. Payments are processed through Crypto.com’s regulated payment platform, with transactions settled in dirhams.

Dubai Duty Free said the launch expands its range of digital payment options, which already includes Apple Pay, Alipay and TerraPay, while offering customers another convenient way to pay.

The move also strengthens Dubai’s ambition to become a global leader in digital commerce, with the emirate targeting 90 per cent of financial transactions to be cashless by the end of 2026.

Announcements

August fuel rates announced: UAE petrol prices go up

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1 week ago

July 31, 2026

Michael Gomes

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UAE motorists will pay more at the pump from Saturday after the UAE Fuel Price Committee announced higher petrol and diesel prices for August 2026.

The revised rates, which take effect from August 1, are:

Super 98: Dh3.60 per litre (up from Dh3.40)
Special 95: Dh3.49 per litre (up from Dh3.29)
E-Plus 91: Dh3.41 per litre (up from Dh3.21)
Diesel: Dh3.80 per litre (up from Dh3.60)

The increase reverses July’s price reduction and comes after volatility in global oil markets during the past month.

The UAE Fuel Price Committee reviews retail fuel prices at the end of each month, with rates determined in line with movements in international oil markets.

The new prices will remain in effect throughout August 2026.