New 50 dirham polymer banknote is official currency in UAE
December 24, 2021, 5:25 pm

New 50 dirham polymer banknote is official currency in UAE

Multi country currency-United Arab Emirates Dirham/Pixabay

The Arab News reported that the Central Bank of the UAE said, the new 50 dirham polymer banknote is official currency and to be used alongside the paper banknote of the same value.

It mentioned that fifty dirhams is equal to about $13.61.

WAM reported citing the CBUAE statement, the new banknote has been distributed to banks and exchange houses.

United Arab Emirates-City of Dubai/Pixabay

The new note, issued on Dec. 7, 2021 to commemorate the country's golden jubilee, depicts the UAE’s founding father Sheikh Zayed bin Sultan signing the union document, and on the opposite side features an image of the seven founding leaders of the emirates.

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Some central banks have found polymers to be longer-lasting and more environmentally-friendly than paper banknotes.

The statement said, polymer banknotes can contain many more security features than paper banknotes.

Source: arabnews

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”