UAE leaders attend launch of new Dh50 banknote


Sarah Forster
  • English
  • Arabic

A new Dh50 banknote has been issued by the UAE Central Bank to celebrate the country's 50th National Day.

Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, and Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, attended the unveiling of the third issue of the note on Tuesday.

The banknote has a picture of the Founding Father, Sheikh Zayed, and the other founding Rulers, according to state news agency Wam. It also features a number of national and historical monuments.

The redesign is in honour of Sheikh Zayed, the founding Rulers and their dedication to uniting the country.

  • From left, Sheikh Mohammed bin Rashid, Sheikh Mohamed bin Zayed and Sheikh Hamad bin Mohammed Al Sharqi. Mohamed Al Hammadi / Ministry of Presidential Affairs
    From left, Sheikh Mohammed bin Rashid, Sheikh Mohamed bin Zayed and Sheikh Hamad bin Mohammed Al Sharqi. Mohamed Al Hammadi / Ministry of Presidential Affairs
  • The design of the new currency from the UAE Central Bank. Wam
    The design of the new currency from the UAE Central Bank. Wam
  • Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, left, and Sheikh Hamad bin Mohammed Al Sharqi, Ruler of Fujairah, centre, witness the launch of the UAE's new currency. Seen with Khaled Mohammed Balama, Governor of the Central Bank of the UAE. Mohamed Al Hammadi / Ministry of Presidential Affairs
    Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, left, and Sheikh Hamad bin Mohammed Al Sharqi, Ruler of Fujairah, centre, witness the launch of the UAE's new currency. Seen with Khaled Mohammed Balama, Governor of the Central Bank of the UAE. Mohamed Al Hammadi / Ministry of Presidential Affairs
  • Pictured, from left, Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman, Sheikh Sultan bin Mohammed Al Qasimi, Crown Prince and Deputy Ruler of Sharjah, Sheikh Saud bin Saqr Al Qasimi, Ruler of Ras Al Khaimah, Sheikh Saud bin Rashid Al Mualla, Ruler of Umm Al Quwain, Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, Sheikh Mohamed bin Zayed and Sheikh Hamad bin Mohammed Al Sharqi, along with Mr Balama. Mohamed Al Hammadi / Ministry of Presidential Affairs
    Pictured, from left, Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman, Sheikh Sultan bin Mohammed Al Qasimi, Crown Prince and Deputy Ruler of Sharjah, Sheikh Saud bin Saqr Al Qasimi, Ruler of Ras Al Khaimah, Sheikh Saud bin Rashid Al Mualla, Ruler of Umm Al Quwain, Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, Sheikh Mohamed bin Zayed and Sheikh Hamad bin Mohammed Al Sharqi, along with Mr Balama. Mohamed Al Hammadi / Ministry of Presidential Affairs
  • From left, Sheikh Ammar bin Humaid Al Nuaimi, Sheikh Sultan bin Mohammed Al Qasimi, Sheikh Saud bin Saqr Al Qasimi, Sheikh Saud bin Rashid Al Mualla and Sheikh Mohammed bin Rashid. Mohamed Al Hammadi / Ministry of Presidential Affairs
    From left, Sheikh Ammar bin Humaid Al Nuaimi, Sheikh Sultan bin Mohammed Al Qasimi, Sheikh Saud bin Saqr Al Qasimi, Sheikh Saud bin Rashid Al Mualla and Sheikh Mohammed bin Rashid. Mohamed Al Hammadi / Ministry of Presidential Affairs
  • Pictured, from left, Sheikh Ammar bin Humaid Al Nuaimi, Sheikh Sultan bin Mohammed Al Qasimi, Sheikh Saud bin Saqr Al Qasimi, Sheikh Saud bin Rashid Al Mualla, Sheikh Mohammed bin Rashid, Sheikh Mohamed bin Zayed and Sheikh Hamad bin Mohammed Al Sharqi, with Mr Balama. Mohamed Al Hammadi / Ministry of Presidential Affairs
    Pictured, from left, Sheikh Ammar bin Humaid Al Nuaimi, Sheikh Sultan bin Mohammed Al Qasimi, Sheikh Saud bin Saqr Al Qasimi, Sheikh Saud bin Rashid Al Mualla, Sheikh Mohammed bin Rashid, Sheikh Mohamed bin Zayed and Sheikh Hamad bin Mohammed Al Sharqi, with Mr Balama. Mohamed Al Hammadi / Ministry of Presidential Affairs
  • The new Dh50 banknote is adorned with an image of the UAE's Founding Father, Sheikh Zayed. Photo: Dubai Media Office
    The new Dh50 banknote is adorned with an image of the UAE's Founding Father, Sheikh Zayed. Photo: Dubai Media Office

"We see, in this issuance, the new phase that the UAE will enter and a renewed pledge to continue its growth path," said Sheikh Mansour bin Zayed, Deputy Prime Minister and Minister of Presidential Affairs, and chairman of the board of directors of the UAE Central Bank, according to the Wam report.

"The occasion also allowed us to express our appreciation and gratitude to our founding fathers by issuing a new [Dh50] banknote to celebrate the 50th anniversary of the establishment of the UAE."

The front of the new note has a portrait of the late Sheikh Zayed on the right and the commemorative picture of the founding Rulers after signing the Union document.

It also has a picture of Wahat Al Karama – the memorial to the heroes of the Emirates – on the left side.

The reverse has a picture of Sheikh Zayed signing the Union agreement, as well as a picture of Etihad Museum, which is where the Union was established and the UAE flag raised for the first time.

The banknote is made of polymer, which allows for enhanced security features such as a see-through window and holograms.

Polymer banknotes are more durable and sustainable than traditional banknotes, which are made of cotton paper. They can also be recycled.

The design has different shades of violet and fluorescent blue colours at the note's centre, along with drawings and inscriptions.

In this issue, the Central Bank took into consideration all banknote users by adding symbols in Braille to help blind and visually-impaired people identify the note.

The new note will be available at Central Bank branches and ATMs soon. The current Dh50 note will continue to be in circulation and accepted as currency.

Sheikh Hamad bin Mohammed Al Sharqi, Ruler of Fujairah; Sheikh Saud bin Rashid Al Mualla, Ruler of Umm Al Quwain; Sheikh Saud bin Saqr Al Qasimi, Ruler of Ras Al Khaimah; Sheikh Sultan bin Mohammed Al Qasimi, Crown Prince and Deputy Ruler of Sharjah and Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman, also attended the unveiling ceremony.

UAE currency: The old Dh50 note was a tribute to the desert

Why it pays to compare

A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.

Route 1: bank transfer

The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.

Total cost: Dh567.25 - around 2.9 per cent of the total amount

Total received: €4,670.30 

Route 2: online platform

The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.

Total cost: Dh74.10, around 0.4 per cent of the transaction

Total received: €4,756

The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.

A timeline of the Historical Dictionary of the Arabic Language
  • 2018: Formal work begins
  • November 2021: First 17 volumes launched 
  • November 2022: Additional 19 volumes released
  • October 2023: Another 31 volumes released
  • November 2024: All 127 volumes completed
The lowdown

Rating: 4/5

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Updated: December 23, 2021, 11:27 AM