Iran–United Arab Emirates relations Iran–United Arab Emirates relations Relations between the neighboring countries of Iran and the United Arab Emirates (UAE) are deeply historic, dating back centuries prior to the establishment of the modern-day United Arab Emirates. Both the countries maintain diplomatic relations with each other, having embassies in each other's capitals, and have close economic ties. There is a significant community of Iranians in the United Arab Emirates, mostly residing in the emirate of Dubai. An Arabic-speaking native community lives in the southern provinces of Iran, some of whose members share historical ties with the southern shores of the Persian Gulf. Iranian businesses
Central Bank of the United Arab Emirates Central Bank of the United Arab Emirates The Central Bank of the United Arab Emirates () is the state institution responsible for managing the currency, monetary policy and banking regulation in the United Arab Emirates (UAE). It was established on as the United Arab Emirates Currency Board. This followed the creation of the UAE as an independent state in 1971. The original purpose of the UAE Currency Board was to issue an independent currency for the new state to replace the existing currencies in use: the Qatari riyal and the Bahraini Dinar. The new UAE dirham entered circulation on the