The UAE was formed in December 1971 but it took another two years or so before the new country got its own currency.
On May 20, 1973, in came the dirham and out went the rupee, the dinar, the riyal and even the Maria Theresa silver thaler.
Having a currency was an expression of sovereignty and unity, especially when so many others had been in circulation among the seven emirates.
In this weekly series, The National breaks down the historical and cultural significance of the designs for each of the denominations.
Dh5
For many years, the Dh5 was the workhorse of UAE currency, representing the price of a soda and a shawarma, a trip across town in the old gold and white Abu Dhabi taxis, or a cup of karak tea and the morning newspaper. Even today it remains a welcome sight for small cash purchases or a tip.
The Dh5 banknote was introduced in 1973, and is today the lowest value paper currency - after the Dh1 note was phased out by the early 1980s.
It has been through a series of barely perceptible colour changes but only two major designs. The original pictured Fujairah’s Al Bithnah Fort, with the words “Five Dirhams” in English and the number 5.

The Arabic side featured a watermark of composite design that included a sailing dhow and the Arabian Gulf coastline, an oil derrick, palm tree, string of pearls and a line of camels.
The design we know today was introduced in 1982. The Arabic side shows Sharjah’s Central Market, generally known as the Blue Souq, which opened in 1978.
On the English language side is the bay at Khor Fakkan and a detail of the nearby Imam Salem Al Mutawa Mosque, built around 200 years ago and one of the oldest in the country.
Alongside is a watermark of a sparrow hawk, widely used in falconry and which now appears on all UAE banknotes.
The design reflects both Sharjah’s peaceful Arabian Sea coast and its busy economic heart. In 2015, a tactile feature of small horizontal lines on the short sides was added to assist the sight impaired.
The inspiration behind the design of the UAE's currency
-

An Arabian sand gazelle at the Mleiha Archaeological Centre in Sharjah. The gazelle is native to the region and can be found on the 25 fils coin. Chris Whiteoak / The National -

The Murban 2 oil well in Abu Dhabi, pictured in 1956. The discovery of oil transformed the emirate and eventually the UAE. Three oil derricks are featured on the 50 fils coin. Adnoc -

A dallah belonging to Sheikh Zayed in the early 20th century on display during the Majlis Zayed Exhibition in Abu Dhabi. The traditional coffee pot, a symbol of Emirati hospitality, appears on the Dh1 coin. Pawan Singh / The National -

One of the entrances to the Central Market, also known as the Blue Souq, in Sharjah. The market was built in 1979 and is adorned with Islamic designs. It can be seen on the Arabic side of the Dh5. Amy Leang / The National -

Salem Al Mutawa Mosque is one of the oldest two in the UAE. About 200 years old, it can be seen on the English side of the Dh5 along with the Khor Fakkan coastline. Antonie Robertson / The National -

The khanjar is a curved ceremonial dagger worn by men in the UAE and Oman. An illustration of the knife can be seen on the Arabic side of the Dh10. Victor Besa / The National -

Date palm tree at Al Dahra farm in Al Ain. A date tree and farm are the main illustrations on the Dh10 note. Pawan Singh / The National -

An Arabian dhow at sea in 1973. The vessel features prominently on the Dh20 note. Marion Kaplan -

Dubai Creek Golf & Yacht Club opened in 1993 and can be seen on the Arabic side of the Dh20 note. Tourism Ireland -

An Arabian oryx at Al Maha Desert Resort in Dubai. The species was endangered but conservation efforts, led by Sheikh Zayed, helped it to flourish. It can be seen on the Dh50 note. Gerry O’Leary -

Completed in 1898 on the orders of Sheikh Zayed the First, Al Jahili Fort in Al Ain is one of the country’s largest. It appears on the English-language side of the Dh50 note. Abu Dhabi Culture and Tourism -

Al Fahidi Fort in Dubai was built in 1787. Since then, it has had many uses, even functioning as a prison for outlaws for a time. It can be found on the Arabic face of the Dh100 note. Pawan Singh / The National -

Dubai World Trade Centre (the grey, rectangular building to the middle left) was opened by Queen Elizabeth II in 1979. The tallest building in the UAE until 1999, it appears on the Dh100 banknote. Alamy -

Established in 1980, the UAE Central Bank was preceded by the Currency Board, which issued the country’s first independent currency: the dirham. The headquarters now features on the Dh200 note. Sammy Dallal / The National -

Worshippers leave the stadium at Zayed Sports City, Abu Dhabi, after Pope Francis led a holy Mass there in 2019. The building opened in 1979 and is featured on the Dh200 banknote. Pawan Singh / The National -

Falcons feature on each of the dirham notes, but the beloved bird takes centre stage on the Arabic side of the Dh500. Getty -

Sheikh Zayed Bridge was designed by renowned Iraqi architect Zaha Hadid. It was opened in 2010, becoming the third gateway from Abu Dhabi island to the greater emirate. During the Year of Zayed in 2019, a special Dh100 note, which is still in circulation, was printed depicting the bridge. Andrew Henderson / The National -

Jumeirah Mosque in Dubai opened in 1979. One of two mosques open to non-Muslims, it is a distinctive feature of the Dh500 note. Getty -

Qasr Al Hosn, the birthplace of Sheikh Zayed, is on the Arabic side of the Dh1,000 note. Victor Besa / The National -

Abu Dhabi’s skyline has changed dramatically since the dirham was launched. The UAE’s capital is featured on the Dh1,000 note. Chris Whiteoak / The National
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
THE SPECS
Engine: 1.5-litre, four-cylinder turbo
Transmission: seven-speed dual clutch automatic
Power: 169bhp
Torque: 250Nm
Price: Dh54,500
On sale: now
Director: Laxman Utekar
Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna
Rating: 1/5
How to help
Donate towards food and a flight by transferring money to this registered charity's account.
Account name: Dar Al Ber Society
Account Number: 11 530 734
IBAN: AE 9805 000 000 000 11 530 734
Bank Name: Abu Dhabi Islamic Bank
To ensure that your contribution reaches these people, please send the copy of deposit/transfer receipt to: juhi.khan@daralber.ae
Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
FIVE%20TRENDS%20THAT%20WILL%20SHAPE%20UAE%20BANKING
SPEC%20SHEET%3A%20NOTHING%20PHONE%20(2a)
While you're here
Nasser bin Nasser: Is US-China conflict in West Asia inevitable?
Sholto Byrnes: Time for an uninhibited China to lead Asia
Damien McElroy: BRI has changed the rules of the game
While you're here
Hussein Ibish: Could it be game over for Donald Trump?
Joyce Karam: Trump's campaign thrown off balance
Trump tests positive: everything we know so far
Company profile
Name: GiftBag.ae
Based: Dubai
Founded: 2011
Number of employees: 4
Sector: E-commerce
Funding: Self-funded to date
Countries recognising Palestine
France, UK, Canada, Australia, Portugal, Belgium, Malta, Luxembourg, San Marino and Andorra
The Florida Project
Director: Sean Baker
Starring: Bria Vinaite, Brooklynn Prince, Willem Dafoe
Four stars
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
On Women's Day
Dr Nawal Al-Hosany: Why more women should be on the frontlines of climate action
Shelina Janmohamed: Why shouldn't a spouse be compensated fairly for housework?
Samar Elmnhrawy: How companies in the Middle East can catch up on gender equality
The National Editorial: Is there much to celebrate on International Women's Day 2021?
THE SPECS
Engine: 4.4-litre V8
Transmission: eight-speed automatic
Power: 523hp
Torque: 750Nm
Price: Dh469,000
While you're here
Kareem Shaheen: Even a pandemic could not unite today's America
Michele Wucker: The difference between a black swan and a grey rhino
Robert Matthews: Has flawed science and rushed research failed us?
A new relationship with the old country
Treaty of Friendship between the United Kingdom of Great Britain and Northern Ireland and the United Arab Emirates
The United kingdom of Great Britain and Northern Ireland and the United Arab Emirates; Considering that the United Arab Emirates has assumed full responsibility as a sovereign and independent State; Determined that the long-standing and traditional relations of close friendship and cooperation between their peoples shall continue; Desiring to give expression to this intention in the form of a Treaty Friendship; Have agreed as follows:
ARTICLE 1 The relations between the United Kingdom of Great Britain and Northern Ireland and the United Arab Emirates shall be governed by a spirit of close friendship. In recognition of this, the Contracting Parties, conscious of their common interest in the peace and stability of the region, shall: (a) consult together on matters of mutual concern in time of need; (b) settle all their disputes by peaceful means in conformity with the provisions of the Charter of the United Nations.
ARTICLE 2 The Contracting Parties shall encourage education, scientific and cultural cooperation between the two States in accordance with arrangements to be agreed. Such arrangements shall cover among other things: (a) the promotion of mutual understanding of their respective cultures, civilisations and languages, the promotion of contacts among professional bodies, universities and cultural institutions; (c) the encouragement of technical, scientific and cultural exchanges.
ARTICLE 3 The Contracting Parties shall maintain the close relationship already existing between them in the field of trade and commerce. Representatives of the Contracting Parties shall meet from time to time to consider means by which such relations can be further developed and strengthened, including the possibility of concluding treaties or agreements on matters of mutual concern.
ARTICLE 4 This Treaty shall enter into force on today’s date and shall remain in force for a period of ten years. Unless twelve months before the expiry of the said period of ten years either Contracting Party shall have given notice to the other of its intention to terminate the Treaty, this Treaty shall remain in force thereafter until the expiry of twelve months from the date on which notice of such intention is given.
IN WITNESS WHEREOF the undersigned have signed this Treaty.
DONE in duplicate at Dubai the second day of December 1971AD, corresponding to the fifteenth day of Shawwal 1391H, in the English and Arabic languages, both texts being equally authoritative.
Signed
Geoffrey Arthur Sheikh Zayed
The UAE's journey to space
The%20specs%20
First-round leaderbaord
-5 C Conners (Can)
-3 B Koepka (US), K Bradley (US), V Hovland (Nor), A Wise (US), S Horsfield (Eng), C Davis (Aus);
-2 C Morikawa (US), M Laird (Sco), C Tringale (US)
Selected others: -1 P Casey (Eng), R Fowler (US), T Hatton (Eng)
Level B DeChambeau (US), J Rose (Eng)
1 L Westwood (Eng), J Spieth (US)
3 R McIlroy (NI)
4 D Johnson (US)
All you need to know about Formula E in Saudi Arabia
What The Saudia Ad Diriyah E-Prix
When Saturday
Where Diriyah in Saudi Arabia
What time Qualifying takes place from 11.50am UAE time through until the Super Pole session, which is due to end at 12.55pm. The race, which will last for 45 minutes, starts at 4.05pm.
Who is competing There are 22 drivers, from 11 teams, on the grid, with each vehicle run solely on electronic power.
Aayan%E2%80%99s%20records
While you're here
Con Coughlin: To survive, Nato must renew its sense of common purpose
Gavin Esler: Nato summit failed for making news more than it made deals
Simon Waldman: Nato continues to be Ankara’s best security guarantor
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
More from this package
J%20Street%20Polling%20Results
Countdown to Zero exhibition will show how disease can be beaten
Countdown to Zero: Defeating Disease, an international multimedia exhibition created by the American Museum of National History in collaboration with The Carter Center, will open in Abu Dhabi a month before Reaching the Last Mile.
Opening on October 15 and running until November 15, the free exhibition opens at The Galleria mall on Al Maryah Island, and has already been seen at the Jimmy Carter Presidential Library and Museum in Atlanta, the American Museum of Natural History in New York, and the London School of Hygiene and Tropical Medicine.
Picture of Joumblatt and Hariri breaking bread sets Twitter alight
Mr Joumblatt’s pessimism regarding the Lebanese political situation didn’t stop him from enjoying a cheerful dinner on Tuesday with several politicians including Mr Hariri.
Caretaker Culture Minister Ghattas Khoury tweeted a picture of the group sitting around a table at a discrete fish restaurant in Beirut’s upscale Sodeco area.
Mr Joumblatt told The National that the fish served at Kelly’s Fish lounge had been very good.
“They really enjoyed their time”, remembers the restaurant owner. “Mr Hariri was taking selfies with everybody”.
Mr Hariri and Mr Joumblatt often have dinner together to discuss recent political developments.
Mr Joumblatt was a close ally of Mr Hariri’s assassinated father, former prime minister Rafik Hariri. The pair were leading figures in the political grouping against the 15-year Syrian occupation of Lebanon that ended after mass protests in 2005 in the wake of Rafik Hariri’s murder. After the younger Hariri took over his father’s mantle in 2004, the relationship with Mr Joumblatt endured.
However, the pair have not always been so close. In the run-up to the election last year, Messrs Hariri and Joumblatt went months without speaking over an argument regarding the new proportional electoral law to be used for the first time. Mr Joumblatt worried that a proportional system, which Mr Hariri backed, would see the influence of his small sect diminished.
With so much of Lebanese politics agreed in late-night meetings behind closed doors, the media and pundits put significant weight on how regularly, where and with who senior politicians meet.
In the picture, alongside Messrs Khoury and Hariri were Mr Joumbatt and his wife Nora, PSP politician Wael Abou Faour and Egyptian ambassador to Lebanon Nazih el Nagari.
The picture of the dinner led to a flurry of excitement on Twitter that it signified an imminent government formation. “God willing, white smoke will rise soon and Walid Beik [a nickname for Walid Joumblatt] will accept to give up the minister of industry”, one user replied to the tweet. “Blessings to you…We would like you to form a cabinet”, wrote another.
The next few days will be crucial in determining whether these wishes come true.
if you go
The flights
Emirates have direct flights from Dubai to Glasgow from Dh3,115. Alternatively, if you want to see a bit of Edinburgh first, then you can fly there direct with Etihad from Abu Dhabi.
The hotel
|
Located in the heart of Mackintosh's Glasgow, the Dakota Deluxe is perhaps the most refined hotel anywhere in the city. Doubles from Dh850 |
Events and tours
There are various Mackintosh specific events throughout 2018 – for more details and to see a map of his surviving designs see glasgowmackintosh.com
For walking tours focussing on the Glasgow Style, see the website of the Glasgow School of Art.
More information
For ideas on planning a trip to Scotland, visit www.visitscotland.com
The%20US%20Congress%20explained
RESULTS
5pm: Sheikh Mansour bin Zayed Al Nahyan Racing Festival Purebred Arabian Cup Conditions (PA) Dh 200,000 (Turf) 1,600m
Winner: Hameem, Adrie de Vries (jockey), Abdallah Al Hammadi (trainer)
5.30pm: Sheikha Fatima bint Mubarak Cup Conditions (PA) Dh 200,000 (T) 1,600m
Winner: Winked, Connor Beasley, Abdallah Al Hammadi
6pm: Sheikh Sultan bin Zayed Al Nahyan National Day Cup Listed (TB) Dh 380,000 (T) 1,600m
Winner: Boerhan, Ryan Curatolo, Nicholas Bachalard
6.30pm: Sheikh Sultan bin Zayed Al Nahyan National Day Group 3 (PA) Dh 500,000 (T) 1,600m
Winner: AF Alwajel, Tadhg O’Shea, Ernst Oertel
7pm: Sheikh Sultan bin Zayed Al Nahyan National Day Jewel Crown Group 1 (PA) Dh 5,000,000 (T) 2,200m
Winner: Messi, Pat Dobbs, Timo Keersmaekers
7.30pm: Sheikh Mansour bin Zayed Al Nahyan Racing Festival Handicap (PA) Dh 150,000 (T) 1,400m
Winner: Harrab, Ryan Curatolo, Jean de Roualle
8pm: Wathba Stallions Cup Handicap (PA) Dh 100,000 (T) 1,400m
Winner: AF Alareeq, Connor Beasley, Ahmed Al Mehairbi
Match info:
Real Betis v Sevilla, 10.45pm (UAE)

