The official Currency of the State “The Dirham” shall be referred as (د ه إ) in Arabic letters and as (AED) in Latin letters and is subdivided into one hundred (100) fills.

1. Issuance of Currency shall be a privilege granted exclusively to the State which shall be exercised solely and exclusively by the Central Bank.
2. No Person is allowed to issue or put into circulation paper banknotes, coins, or any instrument or cheques payable to bearer on demand which have the appearance of, or purporting or are likely to be confused with the currency, and may be circulated in the UAE or in any other country as a currency.

1. Paper banknotes and digital currency issued by the Central Bank shall be an absolute legal tender valid for payment of any amount up to their full face value.
2. Coins issued by the Central Bank shall be legal tender valid inside the UAE for payment of any amount up to its full face value but not exceeding fifty (50) Dirhams. Nevertheless, should such coins be presented to the Central Bank, the latter shall accept them without any limitation to their value.

1. Paper banknotes issued by the Central Bank shall be of such denominations, designs, and specifications as well as features decided by the Board of Directors. Paper banknotes shall bear the signature of the Chairman of the Board.
2. The Board of Directors shall determine the weights, compositions, mix ratios, allowed variation, and all other specifications of coins as well as the quantities required to be minted of each denomination.
3. The Central Bank shall take the necessary procedures for printing paper banknotes aforementioned in Clause (1) of this Article, and minting coins aforementioned in Clause (2) of this Article, in addition to all matters pertaining to such printing, minting and safekeeping of such paper banknotes and coins as well as relevant printing plates and coin dies.
4. The Central Bank shall issue the forms, specifications and designs of digital currency, requirements and conditions of possession and all other features decided by the Board of Directors.
5. The Central Bank shall publish resolutions whereunder Currency is issued pursuant to the specifications, designs and all other features in the Official Gazette.

1)The Board of Directors shall determine conditions for sale and purchase of gold and silver coins at the Central Bank.

2)The Central Bank may issue commemorative Currency notes or coins for any wishing party, in accordance with the rules and conditions set by the Board of Directors.

3)The Board of Directors shall determine the denominations, fineness, and weights, measurements, allowed variation, and all other specifications of gold and silver coins, as well as the quantities of each denomination to be minted.

4)The Central Bank shall make necessary arrangements for minting of gold and silver coins referred to in this article, along with all matters relating to such minting and safekeeping of such coins and the relative plates and dies.

1 )New Currency notes shall be put in circulation by a Board of Directors decision specifying their denominations and quantities. Such decision shall be published in the Official Gazette and communicated to the public through appropriate media.

2) The Board of Directors may, after approval of the Cabinet, withdraw from circulation any denomination of Currency notes against payment of their face value. Such decision shall be published in the Official Gazette and communicated to the public through appropriate media.

3) The withdrawal decision shall specify the time limit allowed for exchange, which shall not be less than three (3) months from date of publication of the decision in the Official Gazette. Such time limit may, if necessary, be reduced to fifteen (15) days.

4) Currency notes not presented for exchange prior to expiry of the time limit stated in item (3) of this article shall cease to be legal tender and may not be negotiated. However, holders of such Currency notes shall have the right to redeem them, at face value, at the Central Bank, within ten (10) years from the effective date of the withdrawal decision. Currency notes not exchanged upon expiry of said ten-year period must be taken out of circulation and their value shall be credited to Central Bank account.

5) The Central Bank shall, in pursuance to the provision of item (4) of this article, destroy the Currency notes withdrawn from circulation in accordance with the instructions issued by the Central Bank in this respect.

6) The Central Bank shall be under no obligation to refund the value of any lost or stolen Currency notes, or to accept or pay for counterfeit Currency notes.

7) The Central Bank shall pay value of torn, mutilated or imperfect Currency notes, which satisfy the requirements to be prescribed by the Central Bank in this regard. Currency notes not satisfying those requirements shall be withdrawn from circulation without any compensation to bearers

1) Currency coins of various denominations shall be put into circulation by a Board of Directors decision specifying their respective quantities. This decision shall be published in the Official Gazette and communicated to the public through appropriate media.

2) Any denomination of the Currency coins referred to in item (1) of this article may be withdrawn, by a decision of the Board of Directors, against payment of their face value. Such decision shall be published in the Official Gazette and communicated to the public through appropriate media.

3) The withdrawal decision shall specify the time limit for exchange, which shall not be less than six (6) months from date of publication of the decision in the Official Gazette.

4) Currency coins not exchanged prior to expiry of the period referred to in item (3) of this article shall cease to be legal tender and may not be negotiated and must be taken out of circulation and their value shall be credited to a special Central Bank account.

5) Should Currency coins lose their features, become deformed, diminished or changed in shape for any reason other than normal use, the Central Bank must withdraw such coins from circulation without compensating their holders.

Article (60 bis)

Digital Currency

1. Board of Directors shall issue a resolution to introduce national digital currency into trading and to withdraw the same when its face value is paid. Such resolution shall be published in the Official Gazette and shall be announced to the public in appropriate media.

2. The Bank shall not be responsible to refund the value of any digital currency that is missing, stolen or manipulated. The Bank shall not accept any counterfeit currency or pay its consideration.

    

Article (60 bis) has been added in accordance with the Decretal Federal Law No. (54) of 2023.

No Person is permitted to mutilate/deform, destroy or shred Currency, in whichever manner. The Board of Directors shall issue regulations on replacement of mutilated, destroyed or shredded Currency

The Central Bank shall, at all times, hold reserves of foreign assets to cover the Monetary Base pursuant to the provisions of Article (63) of this Decree-Law and such reserves of foreign assets shall consist of one or more of the following:

1. Gold bullions and other precious metals;
2. Cash assets and deposits, and other monetary and payment instruments denominated in foreign currencies that are freely convertible in global financial markets, including digital currencies issued by the Central Banks and other monetary authorities. 
3. Securities denominated in foreign currencies issued or guaranteed by foreign governments and the companies, entities, institutions, and agencies affiliated thereto, or by international monetary and financial institutions, or by multinational corporations, provided said securities be tradable in global financial markets.

1) The market value of balance of the Foreign Reserves referred to in Article (62) of this decretal law, shall not, at any time, be less than seventy percent (70%) of the value of the Monetary Base.

2) The Board of Directors may reduce the Monetary Base cover ratio, referred to in item (1) of this article for a period not exceeding twelve (12) months.