Designing and Introducing a Parallel Currency in the UAE

The idea of creating and using a parallel currency in the United Arab Emirates (UAE) is explored in this academic study. A supplemental monetary system that coexists with the official national currency is known as a parallel currency. This research’s goal is to examine the potential advantages, difficulties, and factors related to the introduction of a parallel currency in the United Arab Emirates. The empirical an covers a range of topics, including design elements, implementation tactics, financial ramifications, and legal frameworks. This study attempts to offer in-depth insights into the viability and potential impact of a parallel currency system in the UAE by looking at international case studies and referencing economic theory.