The UAE Central Bank on Monday launched a new Dh100 banknote. Made of polymer, it features the Umm Al Quwain National Fort on the front, with a design depicting Etihad Rail alongside the Port of Fujairah on the back.
The note, in various shades of red, is part of the bank’s third issuance of the National Currency Project and uses multi-coloured security chip technology to combat counterfeiting. It will be in circulation from Monday.
Polymer banknotes are more durable and sustainable than traditional paper ones, lasting as least twice as longer in circulation, the central bank says. There are prominent symbols in Braille to help the blind and visually impaired.
“The new Dh100 [$27] banknote reflects our commitment to the leadership's vision for a sustainable future through initiatives and achievements that support net zero and enhance the nation's financial competitiveness,” said Khaled Mohamed Balama, governor of the central bank.
“Its design embodies the country's ambitious aspirations for future progress and prosperity, while honouring its historical and cultural heritage. We are pleased to announce this special issue in conjunction with the Eid Al Fitr celebrations.”
Banks and exchange houses throughout the Emirates have been instructed to programme their cash machines and counting devices to accept the new notes, alongside existing currency.
What do we know about Etihad Rail?
Etihad Rail, which features prominently on the note, is set to play a transformative role in the UAE. Its planned passenger line is aimed at reducing commuting times, easing congestion, and boosting tourism and trade. It was announced this month that a major station was to be built in Sharjah, close to the airport and University City.
Once up and running, the train station could boost the number of passengers on Etihad Rail to about 14,000 each weekday, officials estimate. Etihad Rail that the first station on the new line would be built in Fujairah.
Other stations in Dubai and across the UAE are expected as part of plans for the passenger network to link 11 cities and regions across the country, from Al Sila to Fujairah, passing through Al Ruwais, Al Mirfa, Abu Dhabi city, Dubai, Sharjah and Al Dhaid.
Trains will travel at up to 200kph and have space for up to 400 passengers. Officials say they expect more than 36 million people a year to use the service by 2030. Carriages will have Wi-Fi, entertainment systems, charging points, and sell various food and drink options.
