From the postmark, I would guess Umm-al-Qaiwain (part of the United Arab Emirates). It is probably an ornamental field of the 'British Monarchs' set from July 1972. However, I doubt whether this issue has ever seen the sheikdom on the Persian-Arabian Gulf.
It isn't really a stamp at all. It is decoration for the sheet to make things pleasing to the eye. The stamps with monarchs are the actual "postage" stamps. They are not rare and may not even be listed by catalogs other than Minkus (I am not sure of this). These stamps were produced in large quantities for the philatelic trade and as stated earlier in this thread, they likely never were available anywhere in the UAE.
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