Latest news with #TheCentralBankoftheUAE
Gulf Today
25-03-2025
- Business
- Gulf Today
CBUAE issues new Dhs100 banknote with latest security features
The Central Bank of the UAE (CBUAE) has launched a new banknote of Dhs100 denomination, made of polymer and using innovative designs and advanced security features, in line with the UAE's leadership vision, and reflecting the UAE's leadership in sustainability. The new Dhs100 banknote is part of the CBUAE's Third Issuance of the National Currency Project. Its design highlights the UAE's success story, featuring cultural and developmental symbols that illustrate the nation's journey to becoming a global economic and commercial hub, connecting continents. Aesthetic and security features: The design of the new banknote is characterised by a distinctive aesthetic, employing various shades of red. To ensure public recognition, the CBUAE maintained the colour characteristics of the current denomination. Furthermore, the design incorporates the UAE nation brand with drawings and inscriptions created using advanced printing techniques. The front of the new banknote features the Um Al Quwain National Fort, a historical and cultural monument. This fort also serves as a national attraction, bridging the past with the present. The reverse side features Port of Fujairah, one of the country's largest ports and a major shipping and maritime transport centre. Additionally, it showcases the Etihad Rail, a railway network that connects the seven Emirates and extends to the Gulf Cooperation Council countries. The Etihad Rail plays a pivotal role in strengthening social ties and supporting sustainable economic development through its integrated infrastructure and logistics. To enhance consumers' confidence and combat counterfeiting, the Dhs100 banknote incorporates advanced security features that include modern technologies such as SPARK Flow DIMENSIONS, and multi-coloured security chip technology known as KINEGRAM COLORS. The polymer banknotes are more durable and sustainable than traditional paper banknotes, lasting two or more times longer in circulation. In this issue, the CBUAE maintained its consideration of all banknote users by adding prominent symbols in Braille to help blind and visually impaired consumers to identify the banknote's value. The new banknote will be in circulation with the existing Dhs100 note, starting Today, March 24, 2025. All banks and exchange houses are instructed to programme their cash deposit machines and counting devices to ensure seamless acceptance of this new banknotes alongside existing paper and polymer banknotes, whose value is guaranteed by law. Recently, the CBUAE won the 'Best New Banknote' award at the 2023 and 2025 High Security Printing EMEA conference for its Dhs500 and Dhs1000 polymer banknotes, which feature unique designs, technical characteristics, and innovative security features. On this occasion, Khaled Mohamed Balama, Governor of the CBUAE, said, 'The new 100 dirham banknote reflects our commitment to the leadership's vision for a sustainable future through initiatives and achievements that support Net Zero and enhance the nation's financial competitiveness. He added, 'Its design embodies the country's ambitious aspirations for future progress and prosperity, while honouring its historical and cultural heritage. We are pleased to announce this special issue in conjunction with the Eid Al-Fitr celebrations.' WAM
Hi Dubai
11-03-2025
- Business
- Hi Dubai
CBUAE Issues Commemorative Silver Coin to Honor Poet Sultan Bin Ali Al Owais' Centenary
The Central Bank of the UAE (CBUAE), in partnership with the Sultan Bin Ali Al Owais Cultural Foundation, has issued a silver commemorative coin to mark the 100th anniversary of Emirati poet Sultan Bin Ali Al Owais (1925-2025). This initiative aligns with UNESCO's recognition of 2025 as the Year of Culture in his honor. Al Owais, a literary icon in the UAE and the Gulf, is renowned for his poetry and his namesake cultural award, which has recognized Arab literary excellence since 1987. The commemorative coin pays tribute to his legacy, featuring one of his poetic verses: 'My homeland is my blood, flowing between my wings, as if it and soul are the same.' The reverse side bears his portrait, along with inscriptions in Arabic and English marking the centenary. Each silver coin weighs 60 grams, has a face value of AED 100, and is limited to 1,000 pieces. The coins will be handed over to the Sultan Bin Ali Al Owais Cultural Foundation and will be available for purchase exclusively at its headquarters. Saif Humaid Aldhaheri, Assistant Governor of CBUAE, emphasized the significance of honoring cultural pioneers who have enriched the UAE's literary heritage. Abdul Hamid Ahmed, Secretary-General of the Foundation, expressed gratitude to CBUAE, highlighting the coin as a lasting tribute to Al Owais' intellectual and artistic contributions. This commemorative issuance stands as a symbol of the UAE's commitment to preserving its cultural and literary heritage while celebrating one of its most influential poets. News Source: Emirates News Agency
Dubai Eye
20-02-2025
- Business
- Dubai Eye
UAE Central Bank sanctions exchange house
The Central Bank of the UAE (CBUAE) on Wednesday said it imposed sanctions on an exchange house operating in the UAE for "failing to comply with anti-money laundering and combating the financing of terrorism policies." The financial authority also reportedly imposed a penalty of AED 3.5 million to the exchange house, which it has not named. "The CBUAE, through its supervisory and regulatory mandates, works to ensure that all exchange houses, their owners, and staff abide by the UAE laws, regulations and standards adopted by the CBUAE to safeguard the transparency and integrity of the exchange houses industry and the UAE financial system," a statement by the Bank said. The #CentralBankUAE imposed financial sanction on an exchange house operating in the UAE, pursuant to Article 14 of the Federal Decree Law No. (20) of 2018 on Anti-money Laundering and Combating the Financing of Terrorism and Illegal Organisations and its amendments. For more… — Central Bank of the UAE (@centralbankuae) February 19, 2025
