This week, the UAE will see the introduction of two new banknotes in the denominations of five and ten dirhams. The announcement was made by the UAE Central Bank (CBUAE). The new AED 5 and AED 10 banknotes will be made of polymer and enhanced by advanced technical characteristics and security features, similar to the AED 50 banknote, which was introduced in December 2021.
The new banknotes reflect CBUAE’s aim ‘to keep pace with the nation’s development and vision in the next fifty years, particularly in the financial and economic sectors.’ The new AED 50 banknote has been a huge success, and CBUAE is hoping that the new AED 5 and AED 10 banknotes will receive the same response. The ten and five dirham banknotes will enter circulation on Thursday 21st April and Tuesday 26th April 2022 respectively.
On this occasion, Khalid Mohammed Balama, Governor of the CBUAE, said, “The new banknote issuance of five and ten dirhams, and previously the fifty dirham note, is a source of great pride and honour. The new banknotes feature symbols and images that reflect the UAE’s history and heritage, as well as embody the new start to keep pace with the development and modernisation aspiration.”
He added, “Thanks to the guidance and support of our wise leadership, we look forward with confidence and optimism to the future, to fulfilling more achievements and position ourselves globally. At the CBUAE, we continue our commitment to make the UAE dirham to become a widely-used international currency.”
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