CBUAE issues commemorative coins to mark centenary of poet Sultan Bin Ali Al Owais
The issuance of the commemorative coin aligns with UNESCO's celebration of centenary of Emirati poet Sultan Bin Ali Al Owais, who is widely regarded as one of the most prominent poetic voices in the UAE and the Gulf region. Al Owais' name is closely linked to the prestigious Sultan Bin Ali Al Owais Cultural Award, which has honoured dozens of Arab writers and creators since its establishment in 1987, continuing to recognise excellence in literature to this day.
The obverse of the coin features a poetic verse from the late Sultan Bin Ali Al Owais's poetry: 'My homeland is my blood, flowing between my wings, as if it and soul are the same". The reverse side of the coin features a portrait of Sultan Bin Ali Al Owais, along with the inscriptions "Central Bank of the UAE" and "Sultan Bin Ali Al Owais Cultural Foundation" in both Arabic and English. It also includes the phrase 'Centenary of Sultan Bin Ali Al Owais' in Arabic, along with the years 1925-2025 and the coin's face value.
Each silver coin weighs 60 grams and has a nominal value of AED 100, with a total of 1,000 pieces to be issued. The coins will be handed over to the Sultan Bin Ali Al Owais Cultural Foundation and will only be available for purchase at its headquarters.
H.E. Saif Humaid Aldhaheri, the CBUAE's Assistant Governor for Banking Operations and Support Services, said: 'We take pride in this collaboration, which reflects the Central Bank's keenness to honouring pioneers of thought and culture who have enriched creativity in the UAE and the Arab world. The issuance of commemorative coins for the centenary of the Emirati poet Sultan Bin Ali Al Owais serves as a tribute to his memory and a recognition of his significant contributions to advancing intellectual and scientific progress in culture, literature and poetry.'
H.E. Abdul Hamid Ahmed, Secretary General of the Sultan Bin Ali Al Owais Cultural Foundation, said: "UNESCO's designation of 2025 as the Year of Culture to commemorate the centenary of celebrated Emirati poet Sultan Bin Ali Al Owais came after the organisation made a thorough review of Sultan Bin Ali Al Owais' rich profile of achievements, presented by the National Committee of the UAE for Education, Culture, and Science, during the 42nd session of UNESCO's General Conference.
The Foundation's Secretary General expressed his profound thanks to the Central Bank of the UAE for its collaboration in issuing the commemorative coin, which will stand as both a historical and enduring symbol of the moral, material and intellectual legacy of an Emirati poet who made a significant mark in the world of creativity.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
What's On
an hour ago
- What's On
Café 302 is where everyone can eat, sip, and relax
Whether you're starting your day with breakfast, enjoying a quiet family meal, or taking a break from work, it's the perfect calm spot to pause. The café also features a small retail corner with thoughtfully selected organic essentials and gourmet items for everyday living, making every visit a little more special. New Foodie Fridays Introducing the brand new Friday night feast. At Café 302, every dish is carefully crafted using locally sourced ingredients to ensure maximum freshness and quality. Guests can indulge in a variety of plant-based desserts alongside a selection of signature Café 302 favourites, all served with complimentary soft beverages. With vegan-friendly creations included, there is something delicious for everyone to enjoy. Times: Fridays, 7:00pm to 10:00pm Cost: Dhs129 per person Contact: 02 610 6688 Café 302 has much more to offer beyond Friday nights. Take a look at some of the café's other delicious options: Breakfast Image: Supplied Choose from four breakfast styles, served daily: Full English Lifestyle Local Vegan Sunshine Times: 10:30am to 1pm Cost: Dhs85 Healthy & inclusive options Image: Supplied Café 302 offers Keto, vegan, and gluten-free options across breakfast, lunch, and dinner. Times: Daily, 10:30am to 10pm Cost: Varies by dish Award winning business lunch Enjoy a starter, main course, and drink for a complete Café 302 experience. Highly commended in the Whatson Awards 2025 business lunch category. Times: Daily, 12pm to 10pm Cost: Dhs99 Specialty coffee & drinks Image: Supplied Try the Kyoto-style coffee, brewed over 10 to 12 hours for a smooth, rich taste. A variety of specialty coffee and fresh beverages are available for dine-in or takeaway. Times: Daily, 10:30am to 10pm Cost: Varies by drink Work. Sip. Repeat Perfect for a workday escape, enjoy: Pocket menu with beverage Dessert and beverage Pizza & salad or soup Times: Daily, 12pm to 10pm Cost: From Dhs40 Cozy spot to work or relax With a calm atmosphere and a small retail corner stocked with organic essentials and gourmet items, Café 302 is perfect for working, catching up with friends, or enjoying a family meal. Location: 302 Saeed Bin Ahmed Al Otaiba St, Al Danah, Zone 1, Abu Dhabi Times: Daily, 6am to 11pm Contact: Reserve your table by calling 02 610 6688 @cafe302 Images: Supplied > Sign up for FREE to get exclusive updates that you are interested in
Arabian Business
5 hours ago
- Arabian Business
Iraq aims to attract $250bn in investments by 2027 after securing $100bn in past two years
Iraq is seeking to attract $250bn in new investments over the next two years, according to the National Investment Commission (NIC), as the country accelerates reforms to strengthen its economic growth. The NIC said that Iraq had already secured $100bn in investments over the past two years, supported by pro-investment government initiatives, legislative and regulatory reforms, and programs adopted by the commission to encourage both Arab and foreign capital. Hanan Jassim, spokesperson for the commission, said the accession to international agreements to protect and encourage investment had played a key role in drawing foreign interest. Iraq investment opportunities She added that the NIC has also developed an integrated investment map that highlights more than 100 strategic opportunities across various sectors of the economy. The commission stressed that these reforms aim to position the country as a competitive regional and global investment hub while driving economic diversification and sustainable growth.
Arabian Post
5 hours ago
- Arabian Post
US rate cuts open window for GCC bond market gains
Matein Khalid It is now all but certain that the Federal Reserve will cut the US overnight borrowing rate, currently 4.25 percent, by at least 25 basis points at its September 18 Federal Open Market Committee (FOMC) meeting. The labour market is losing momentum, while tariff-driven inflation has yet to show up in the Consumer Price Index. The Trump White House has ramped up pressure on Fed Chair Jerome Powell to deliver a fresh round of rate cuts. Treasury secretary Scott Bessent has publicly urged a 150-175 basis-point reduction in the Fed funds rate to jumpstart US growth. If the FOMC yields, the policy rate could sink to 2.5 percent by next summer. ADVERTISEMENT Such a move would sharply reduce the interest income earned by GCC family offices and corporates on three-month US dollar bank deposits, which now yield around 4 percent or less in the Gulf. Savers and investors in the region will therefore need to consider reallocating from cash holdings into bond and sukuk strategies within the GCC market. Credit risk, duration risk and interest rate risk are unavoidable when investing in the GCC bond market, which is predominantly denominated in US dollars. The kingdom of Bahrain sovereign bond has a coupon of 6.75 percent and a maturity date of August 20, 2029. Bahrain may be well into non-investment grade territory but, based on guarantees or attachment of specific cash flows, Fitch assigns this issue of Bahrain debt a BBB credit rating, which is investment grade. The four-year bond offers a yield to maturity of 5.65 percent. If the Fed funds rate drops to 2.5 percent in the next easing cycle, the yield to maturity on Bahrain's bonds may also decline, allowing investors to book capital gains. Investors in the UAE can also buy bonds and sukuk issued by prime Emirati banks which are majority-owned by the governments of Abu Dhabi and Dubai. For instance, First Abu Dhabi Bank (FAB) has a subordinated debt issue which offers a 6.32 percent coupon and a maturity date of April 04, 2034. This FAB bond is trading at 104 and provides a yield to maturity of 5 percent. FAB has the lowest funding cost in the UAE, with an S&P rating of AA-. Investors seeking Dubai bank exposure may look to Emirates NBD, the city's largest universal bank. Its perpetual bond carries a 6.25 percent coupon, is trading at 103, and has a next call date of August 25, 2030, translating into a yield to call of 5.65 percent. Suppose the Federal Reserve cuts its benchmark interest rate at every FOMC meeting after September, as Wall Street and the US Treasury secretary now expect. In that case, bond market yields will also fall, and the price of GCC sovereign and bank debt will rise. Regional investors should not wait for the Fed funds rate to bottom at 2.5 percent in the coming easing cycle. By then, GCC bond prices will likely have already risen sharply, as cash yields compress in response to the Fed's dovish pivot. While it is prudent for every investor to retain a cash cushion to cover unexpected emergencies, the Wall Street dictum that 'cash is trash' is most relevant when the Fed slashes its policy rate. Although bonds typically offer higher yields than bank deposits, investors remain exposed to risks. A downgrade in an issuer's credit rating or a rise in interest rates, driven by inflation or shock events such as a sudden war or oil price spike, as seen after Saddam Hussein's invasion of Kuwait or Russia's invasion of Ukraine, can trigger losses. The biggest risk to intermediate-term bonds issued by GCC banks and governments is the supply glut in the oil market and a plunge in Brent crude below its current $66 spot price Also published on Medium. Notice an issue? Arabian Post strives to deliver the most accurate and reliable information to its readers. If you believe you have identified an error or inconsistency in this article, please don't hesitate to contact our editorial team at editor[at]thearabianpost[dot]com. We are committed to promptly addressing any concerns and ensuring the highest level of journalistic integrity.
