logo
UAE Central Bank issues 7,000 silver commemorative coins to mark Golden Jubilee of Dubai bank

UAE Central Bank issues 7,000 silver commemorative coins to mark Golden Jubilee of Dubai bank

Gulf Today04-06-2025
The Central Bank of the UAE (CBUAE) has issued 7,000 silver commemorative coins to mark the Dubai Islamic Bank's (DIB) Golden Jubilee and to honor its achievements in the banking sector since its establishment in 1975. The issuance includes 2,000 coins of 50 grams and 5,000 coins of 20 grams.
The obverse of the coin features the inscription "50 Years of Progress", the mnemonic descriptor of this occasion in Arabic and English, signifying the 1975- 2025 period, along with the name "Dubai Islamic Bank" in both languages. The reverse side displays the nominal value of "50 dirhams" in Arabic, encircled by the inscription "Central Bank of the UAE' in both Arabic and English.
The issuance of the coin comes as part of DIB celebration of its anniversary and the launch of its journey full of growth, development, and achievements over fifty years, making it a prominent financial institution in the UAE that provides innovative banking services to individuals and companies, in line with the economic and developmental aspirations of the country.
The commemorative coins will be formally handed over to DIB and will not be available for sale to public through CBUAE or DIB.
H.E. Saif Humaid Aldhaheri, the CBUAE's Assistant Governor for Banking Operations and Support Services, said: 'The Central Bank issues these commemorative coins that embody DIB's fifty-year journey of contributions and successes and its effective role in supporting the national economy. This issuance reflects the central bank's support to document the prominent institutional achievements that are integral to the financial sector's history, and it highlights the continuous efforts to enhance trust and financial stability in the UAE.'
Dr. Adnan Chilwan, Group Chief Executive Officer of DIB, said: 'We are deeply honoured by the Central Bank of the UAE's gesture in adopting the DIB initiative and issuing commemorative coins to mark our 50-year legacy. More than symbolic tribute, it reflects the enduring partnership between DIB and the nation's financial ecosystem, and our shared commitment to building a resilient, inclusive, and forward-looking economy. As we celebrate five decades of pioneering Islamic finance, this recognition reinforces our resolve to lead with purpose, inspire innovation, and shape the future of banking in the UAE and beyond.'
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Augustus Media appoints Rakan Felemban as Head of Content for Saudi Arabia
Augustus Media appoints Rakan Felemban as Head of Content for Saudi Arabia

Campaign ME

time4 hours ago

  • Campaign ME

Augustus Media appoints Rakan Felemban as Head of Content for Saudi Arabia

Augustus Media has appointed Rakan Felemban as its new Head of Content – KSA and Senior Content Director. With more than 15 years of experience in the digital content space, Felemban brings a deep passion for culturally resonant storytelling and a strong track record of building impactful media brands across the region. In his new role, Felemban will lead content strategy, creative innovation and play a key role in expanding the Augustus Media presence across Saudi Arabia. As a founding team member of UTURN Entertainment and MDLBEAST, Felemban has been instrumental in shaping the regional content ecosystem. Most recently, he led the editorial strategy for Billboard Arabia, where he played a pivotal role in establishing its footprint and championing authentic narratives rooted in Arab culture. Felemban's expertise spans the development of award-winning intellectual properties, building high-performing creative teams, producing standout campaigns for global brands, and crafting narratives that celebrate local identity while embracing digital innovation. Commenting on the appointment, Richard Fitzgerald, CEO of Augustus Media, said, 'Rakan is a true pioneer in the regional content space. His ability to build culturally relevant narratives and lead dynamic creative teams makes him a perfect fit for Augustus Media's next chapter in Saudi Arabia and for Lovin Saudi's content direction. As we grow our Lovin and Smashi brands across the Kingdom, Rakan's leadership will be invaluable.' As Augustus Media deepens its roots in the Kingdom, this leadership appointment marks the latest chapter in a long-term commitment to the Saudi market. Speaking about his new role, Rakan Felemban added, 'It's an exciting time for content in Saudi Arabia. I'm honoured to join Augustus Media at this pivotal moment and contribute to its mission of telling stories that matter, stories that reflect who we are and where we're going. Together, we'll build a platform that inspires, informs and celebrates our culture.' Through its flagship brand Lovin', the company has launched Lovin Saudi in Arabic, alongside city-focused editions such as Lovin Riyadh, Lovin Jeddah, and Lovin Dammam, with plans to expand across all 13 administrative regions. These platforms aim to serve as digital hubs for hyperlocal stories, social moments, and lifestyle content that resonate with Saudi audiences. On the streaming front, Smashi Entertainment intends to engage Gen Z and millennial audiences across platforms, with original programming including the Snapchat show 'Who's Crushing Social Media,' which highlights rising digital creators and viral trends across the Kingdom. Supporting this content ecosystem is ODEUM, Augustus Media's in-house content studio. With a portfolio that includes collaborations with high-profile entities such as MiSK Foundation and the King Khalid Foundation, ODEUM delivers full-scale creative, strategic and production services from its fully functional studios in Al Najis. These facilities were developed as part of Augustus Media's participation in the Saudi Ministry of Investment's Ignite Programme, designed to accelerate the growth of media and entertainment in the Kingdom.

Du launches first Arabic Telecom LLM with Microsoft, Nokia and partners
Du launches first Arabic Telecom LLM with Microsoft, Nokia and partners

Broadcast Pro

time4 hours ago

  • Broadcast Pro

Du launches first Arabic Telecom LLM with Microsoft, Nokia and partners

Landmark partnership to develop an Arabic Telecom Large Language Model (LLM) designed to enhance du’s internal operations through greater efficiency, automation, and AI-driven innovation. Du, the telecom and digital services provider, has partnered with Microsoft, Nokia, Khalifa University’s 6G Research Centre and the International Telecommunication Union (ITU) to launch a first-of-its-kind Arabic Telecom Large Language Model (LLM). This cross-sector partnership brings together global tech innovation, regional research leadership and international policy guidance to co-create an AI model that serves critical telecom functions in Arabic, a first in the industry. The du Arabic Telecom LLM is tailored specifically for internal telecom operations and is designed to enhance the efficiency of du’s processes while advancing the UAE’s vision for sovereign AI capabilities. This breakthrough collaboration introduces an Arabic-language telecom assistant that supports du’s internal teams by enabling real-time customer complaint handling, device issue resolution and intelligent operational insights through culturally fluent and context-aware dialogue. The model is built to transform internal processes while ensuring alignment with linguistic precision and cultural nuances specific to the UAE market. Saleem AlBlooshi, Chief Technology Officer at du, said: 'du Arabic Telecom LLM reflects our commitment to improving internal efficiency and customer experiences using advanced, culturally attuned solutions. Together with our esteemed partners, Microsoft, Nokia, Khalifa University and ITU, we are building a future where AI speaks our language, understands our context, and drives real operational transformation and impactful customer exp.' Developed in the UAE, du Arabic Telecom LLM reflects the region’s language and cultural standards, ensuring accurate and meaningful applications for internal telecom use across national critical infrastructure. Looking forward, this collaboration lays the groundwork for extending the model’s capabilities beyond internal operations to include customer-facing functions and multilingual support, paving the way for broad sectoral innovation. du and its partners are dedicated to advancing this Arabic Telecom LLM as a benchmark for localized, responsible AI application in the telecom industry and beyond.

Sharjah Ruler establishes Sharjah Hospitality Group
Sharjah Ruler establishes Sharjah Hospitality Group

Sharjah 24

time5 hours ago

  • Sharjah 24

Sharjah Ruler establishes Sharjah Hospitality Group

Establishment and Legal Status According to the Decree, a government institution named 'Sharjah Hospitality Group' shall be established in the Emirate. The Group shall be an independent government entity affiliated with the Sharjah Family and Community Council. It shall enjoy legal personality and the legal capacity necessary to achieve its objectives and exercise its competencies. The institution shall be officially known in English as 'Sharjah Hospitality Group.' Its headquarters shall be located in the city of Sharjah, with the possibility—by decision of the Chairperson—of establishing branches or offices in other cities and regions of the Emirate. Chairperson and Management In accordance with the Decree, Her Highness Sheikha Jawaher bint Mohammed Al Qasimi shall preside over the institution. The Chairperson shall issue decisions to appoint those deemed suitable to assist in managing the Group and overseeing its affiliated entities. Powers of the Chairperson The Decree stipulates that the Chairperson shall have the authority to establish, merge, or dissolve any entity affiliated with the Group. The Chairperson may also form or dissolve any committees or councils associated with the Group. Additionally, the Chairperson shall approve the budgets of the Group and its affiliated entities and may delegate any of their powers or responsibilities to senior staff within the Group, in accordance with applicable legislation. The Chairperson is also authorised to establish, introduce, or amend administrative positions and organisational structures of the Group and its affiliated entities. Mandate and Competencies The Group shall undertake the responsibility of developing public policies for hospitality services with the aim of growing and advancing the Group. It shall also set strategic plans and standards for the Group's activities and those of its affiliated entities. The Group is further tasked with issuing internal regulations and systems governing the work of the Group and its entities. It shall oversee the management and operation of its facilities and establishments in line with best professional practices and both local and international standards. In addition, the Group will implement programmes, initiatives, and projects related to hospitality and wellbeing. It shall organise contracting procedures and enhance partnerships with public and private sector entities both within and outside the Emirate. The Group will monitor performance levels and ensure the quality of services provided through periodic evaluation tools and by implementing mechanisms for oversight and continuous improvement. It will also train and develop specialised human resources in the field of hospitality, enhancing their skills in coordination with the competent authorities. Lastly, the Group shall undertake any other competencies assigned by the Chairperson. Entities Operating Under the Group According to the Decree, the Group shall supervise and operate under its umbrella the Sharjah Ladies Club and its branches, as well as Al Jawaher Reception and Convention Centre. It may also include any other projects, establishments, or entities related to hospitality, wellbeing, or hospitality services that are added to the Group by a decision from the Chairperson. Financial Resources The financial resources of the Group shall consist of government allocations, revenues generated from the activities of affiliated entities, and income derived from the investment of the Group's funds. Additional sources may include sponsorships and partnerships, as well as any other resources approved by the Chairperson that align with the objectives and activities of the Group. All funds shall be deposited in banks approved by the Chairperson and may not be used for any purpose other than those for which they are allocated, in accordance with the provisions of this Decree and applicable legislation, or with the prior approval of the Chairperson.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store