The dirham has the power of absolute discharge to deal with any amount and at the full value of the currency

Federal Decree No. 14 of 2018 on the Central Bank and the Organization of Financial Facilities and Activities issued by His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the United Arab Emirates, will review the second part entitled "Critical" in Dirhams, Gold, Silver and Coins And their terms and mechanisms.

Chapter one: The monetary unit and its issue

* Article (54) Currency Unit

Refer to the official monetary unit of the state "dirham" B (D E E) in Arabic letters and in AED characters (Latin). The dirham is divided into 100 (100) sons.

* Article (55) Issue of cash

(1) The issue of cash is a privilege limited to the State and exercised by the central bank only.

(2) No person shall issue or put into circulation any paper or metal currency, or any bond or instrument payable to his holder upon demand, that appears to be in the money or is in any way confused with this one and which can be exchanged as currency in the state or in any other state.

Article (56) The power of criticism

1) The paper currency issued by the Central Bank is considered a legal tender with an absolute power of discharge for the payment of any nominal amount.
(2) The currency issued by the Central Bank is deemed to be a legal tender in the State which has the power of absolute discharge to pay any amount in the State in total nominal value and not exceeding fifty (50) dirhams. However, if this piece is handed over to the Central Bank, any determination of its amount.

* Article (57) Specification, Characteristics and Categories of Cash

1) The Central Bank issues paper money in the categories, forms, specifications and other characteristics determined by the Minister upon the proposal of the Board of Directors. The minister and the president of the council sign the paper money.
(2) The Minister shall, on the proposal of the board of directors, determine the weight of the coin, the composition, the mixing ratios, the amount of the eligible difference and all other descriptions and the quantities required for each category.
(3) The Central Bank shall carry out the procedures necessary to print the paper currency referred to in point (1) of this Article and to issue the coin referred to in point (2) of this Article, together with all information relating to its printing and its sealing, and to ensure the preservation of these parts, parts and equipment. .
4) The Central Bank publishes the decision to issue money with specifications, features and other features in the Official Journal.

* Item (58) Gold and silver coins and commemorative coins

1) The Board of Directors determines the conditions of sale and purchase of gold and silver coins at the Central Bank.
(2) The Central Bank may issue bank notes or commemorative metal coins to any party wishing so, in accordance with the rules and conditions set by the board of directors.
(3) The Minister shall determine, on the proposal of the board of directors, the descriptions, size, weight, dimensions, amount of the difference authorized and any other description of the gold and silver coins, as well as the quantities required for each category.
(4) The Central Bank shall take the necessary measures to strike the gold and silver coins referred to in this article, as well as all related coins, and to ensure the safekeeping of such coins, coins, plates and molds.

Chapter Two: Trader and withdraw money

* Article (59) Paper currency

1) The new paper money shall be circulated by decision of the Management Board, specifying the categories and the amount, published in the Official Journal and disseminated to the public by the appropriate media.
(2) The Board of Directors may, after approval by the Council of Ministers, withdraw from circulation any class of paper money against the payment of its nominal value. This decision will be published in the Official Journal and communicated to the public by the appropriate media.
(3) The decision to withdraw shall specify the time limit for the transfer, but not less than three (3) months from the date of publication of this Decision in the Official Journal. In this case, the period may be reduced to fifteen (15) days.
(4) Paper currency which has not been placed on the stock exchange before the expiry of the period specified in Section 3 of this Article shall lose its probative value as legal tender and avoid using it. The paper holder is entitled to receive its nominal value from the Central Bank within a period of ten (10). Withdrawal decision: If ten years have elapsed without the paper currency being exchanged, it must be withdrawn from circulation and returned to the account of the Central Bank.
(5) The Central Bank shall destroy the withdrawn paper money in accordance with the provisions of point 4 of this article in accordance with the instructions of the Central Bank in this regard.
(6) The Central Bank shall not pay the value of the lost or stolen paper currency, nor accept or pay the counterfeit currency.
(7) The Central Bank shall pay the value of torn, distorted or incomplete paper money which meets the conditions stipulated in the instructions issued in this respect. Paper money, which does not fulfill these conditions, is withdrawn from circulation at no cost to its holder.

* Article (60) Currency

(1) The categories of currency shall be put into circulation by a decision of the Management Board specifying the amount of that currency, which shall be published in the Official Journal and communicated to the public by the appropriate media.
(2) The board of directors may decide to withdraw any class of currency referred to in 1 of this section in exchange for payment of its par value. This decision will be published in the Official Journal and communicated to the public by the appropriate media.
(3) The withdrawal decision shall determine the replacement period, which shall not be less than six (6) months from the date of publication of this Decision in the Official Journal.
(4) Money which does not change before the expiry of the period referred to in point (3) of this Article shall lose its probative value as legal tender and shall be prohibited from use. It must be withdrawn from circulation and returned to the account of the Central Bank.
(5) If the coin loses its characteristics or is deformed, reduced or altered for any reason not due to its usual use, the Central Bank shall withdraw it from circulation without compensation to its holders.

Article (61): Distortion, destruction or tearing of money

No one shall be subjected to distortion, damage or destruction of money in any form whatsoever.