The Central requests to use the new code for dirhams in financial services

The central bank asked all financial institutions operating in the country to use the new national currency symbol, “Emirati dirham”, in all the services it provides, as well as accounting and auditing systems, online trading platforms, foreign exchange sites and others.

A circular issued by the “Central” yesterday, which the Emirates Today obtained a copy of it: “In line with the vision of the rational leadership to consolidate the pioneering status of the United Arab Emirates as a global financial center, the United Arab Emirates Central Bank launched, in March 2025, the new symbol of the national currency of the UAE (dirham) in its cash and digital form to represent a new era of aspirations to enhance the UAE dirham as an accredited international currency In global markets. ”

The Central added in his circular: “Accordingly, the financial institutions operating in the country must use the new symbol of the national currency (dirham) in the services of concrete and digital applications, such as receipts and bills, price cards and online shopping, checks, ATMs, banking electronic applications, audit and accounting systems, online trading platforms, foreign exchange sites and others”, and attach the “central” In his circular guidelines for financial institutions to implement what was stated in the circular.

In addition, the Central Bank imposed financial penalties on two branches of foreign two banks working in the state, whose value of the first bank amounted to 10.6 million dirhams, and the second bank has 7.5 million dirhams, according to (Article 14) of the Decree of a Federal Law (No. 20) of 2018 regarding facing money laundering crimes, combating terrorist financing and financing illegal organizations.

Financial penalties come based on the results of the inspection operations conducted by the “Central” on the two branches of foreign banks, which showed the existence of failures and violations related to non -compliance with the framework of facing money laundering crimes, combating terrorist financing, financing illegal organizations, and relevant legislation.

Through its regulatory and organizational duties, the central bank works to ensure the commitment of all banks and their employees to legislation and laws in force in the UAE, and the regulations and standards approved by it, with the aim of preserving the transparency and integrity of financial transactions within the framework of efforts to protect the state’s financial system.