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Article (56) Currency Legal Tender

Fed Law 14/2018 Issued on 1/10/2018
  1. Paper banknotes and digital currency issued by the Central Bank shall be an absolute legal tender valid for payment of any amount up to their full face value.
  2. Coins issued by the Central Bank shall be legal tender valid inside the UAE for payment of any amount up to its full face value but not exceeding fifty (50) Dirhams. Nevertheless, should such coins be presented to the Central Bank, the latter shall accept them without any limitation to their value.
This article has been amended by Decretal Federal Law No. (54) of 2023. You are viewing the latest version. To view the previous version, click the version box below.
Version 1(effective from 31/10/2018 to 01/11/2023)

 

1) Currency notes issued by the Central Bank shall be legal tender for payment of any amount up to their full face value.

2) Currency coins issued by the Central Bank shall be legal tender in the State for payment of any amount with its full face value, and not exceeding fifty (50) Dirhams. Nevertheless, should such Currency coins be presented to the Central Bank, the latter must accept them without any limitation to its quantity.