SHARJAH // A set of three stamps issued 37 years ago to celebrate the UAE’s 6th National Day sold for Dh5,500 at auction in the 5th Annual Stamp Exhibition in Sharjah.
The exhibition, which started on November 12, featured the Penny Black, the world’s first adhesive postage stamp used in a public postal system, issued in 1840 in the UK.
An Emirati made the highest bid of Dh5,500 for the National Day stamps, beating bids by 70 collectors who travelled from Saudi Arabia and Bahrain.
This year’s exhibition at Mega Mall featured more than 70 exhibitors from the GCC, Iraq and China, with enthusiasts from Arab countries, Pakistan, Latvia and the US attending.
“The philatelic stories told throughout the 5th Annual Stamp Exhibition painted a picture of the history of our region and beyond through this exciting medium,” said Abdulla Khoory, president of the Emirates Philatelic Association.
The auction was held last Saturday, and several awards were distributed to the exhibitors at a dinner.
The highest honour, Large Vermeil, was given to Ali Al Rais from Kuwait for his Kuwait Postal History (1878-1965)’ exhibition, and Jamal Al Barazi of the UAE for Syrian Army Postal Tax 1945-1950’.
tzriqat@thenational.ae
FFP EXPLAINED
What is Financial Fair Play?
Introduced in 2011 by Uefa, European football’s governing body, it demands that clubs live within their means. Chiefly, spend within their income and not make substantial losses.
What the rules dictate?
The second phase of its implementation limits losses to €30 million (Dh136m) over three seasons. Extra expenditure is permitted for investment in sustainable areas (youth academies, stadium development, etc). Money provided by owners is not viewed as income. Revenue from “related parties” to those owners is assessed by Uefa's “financial control body” to be sure it is a fair value, or in line with market prices.
What are the penalties?
There are a number of punishments, including fines, a loss of prize money or having to reduce squad size for European competition – as happened to PSG in 2014. There is even the threat of a competition ban, which could in theory lead to PSG’s suspension from the Uefa Champions League.
UAE currency: the story behind the money in your pockets
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