New 50 Dirhams currency note to be out soon

UAE 50 new currency note

The Central Bank of the United Arab Emirates announced that it would put in circulation an amended Dh50 Dirhams currency note, reprinted with new security featurea, through the silver metallic thread on the front of the note with a broader (3mm) colour shifting thread reading “UAE 50”.

In a statement, the bank explained that the overall design and other specifications of the note will remain same.

This amended currency note will be put in circulation as legal tender along with the currency notes currently in circulation with effect from Monday 30th July 2012.

The note will be dispensed to banks in accordance with the Central Bank’s established procedures for cash withdrawal and deposit.

From: Emirates 24×7

Khaliji: Common Gulf Currency to launch in 2010


Khaliji: Common Gulf Currency to be launched in 2010.

The Gulf common currency is just 12 months away. Economists at the Dubai International Financial Centre have tentatively named the new common currency the “Khaliji”. Although the baptism is not yet officially approved, DIFC economists are hopeful that the proposed name will find favour with the decision makers.

“While the name does not associate or sound like any of the existing currencies of the Gulf States, it does reflect the attribute of the region to which all the states belong,” said Dr Nasser Al Saidi, chief economist of the Dubai International Financial Centre.