U.A.E. To Soon Mint Its Own Currency

By PYMNTS | June 2, 2013

The U.A.E. Central Bank announced it has decided to resurrect previous plans to create the country’s first currency mint in order to meet consumer needs, Arabian Business reports. The Central Bank originally proposed plans to set up a mint in Abu Dhabi back in December 2009, but failed to follow through.

The currency-making mint will be developed by Emirates Investment Authority and will serve demands from various markets. Details about the cost or the opening of the mint have not yet been made public. Currently, U.A.E.’s currency, dirham, is produced in oversea countries such as the UK and France.

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