Egypt’s central bank issues new 20-pound polymer banknote
The Central Bank of Egypt (CBE) has on Tuesday issued the new 20-pound polymer banknote.
“In light of the commitment to keep up with latest international standards used in securing and printing currencies notes, and as part of the continued efforts to implement a clean cash policy and raise the quality of circulated banknotes in the Egyptian market, the Central Bank of Egypt (CBE) issues the new 20-pound polymer banknote, using the latest banknote production lines in the New Administrative Capital.” CBE statement read.
The CBE asserted that the EGP 20 paper banknote will remain valid for circulation side by side with the newly-issued polymer without any changes.
The new 20-pound is the first denomination of its kind issued in the Egypt, using cutting-edge technologies to enable the blind and visually-impaired individuals to identify the banknote’s value by sensing the tactile ADA Braille dots crafted on the top-left of the currency.
The issuance of the new banknotes contributes to printing cost reduction of the banknotes, especially the commonly used denominations, including the 10-pound polymer banknote currently circulating in the market. The new issuance comes in accordance to the state’s sustainable development goals towards the fulfillment of Egypt’s Vision 2030.
The new banknote features modern and innovative design elements, reflecting the Egyptian determination to build and develop the new republic. This is while preserving the foundations of the ancient Pharaonic civilization and the Islamic heritage of Egypt. The front of the new currency is adorned with tactile dots along with Mohamed Ali Mosque, whereas the back of the currency includes Queen Cleopatra’s statue and the Great Pyramids along with the Pharaonic military chariot, and the ancient Egyptian warrior, symbolizing the strength and greatness of ancient Egypt.
All design elements signify the combination of ancient Egyptian history authenticity and the nobility of the modern era.
In general, polymer banknotes are characterised by being more flexible, stronger, thinner than paper banknotes, having a longer life span that can extend to three times than the paper banknote, in addition to being water and dust-resistant. It is eco-friendly, recyclable and difficult to counterfeit.
The CBE confirms that the EGP 20 paper banknote will remCitizens can obtain the new polymer LE20 through the Egyptian banks’ network of branches, which exceeds 4,500 branches.
