The United Arab Emirates, a regional financial hub, has revived plans to set up its first currency mint to meet the country’s needs, its central bank said on Wednesday.
The central bank first announced plans to set up a currency mint in Abu Dhabi in December 2009, but the project never took off.
The currency printing unit, which will be built by Emirates Investment Authority, will cater to demand from other markets, the statement said.
No details were given about the cost or when the currency mint would be ready.
The UAE’s currency, the dirham, is printed overseas in countries such as the UK and France.