The Central Bank of Egypt (CBE) has introduced the plastic (polymer) 10-pound banknote for the first time, while the paper version of this banknote is still valid.
Launching the new banknote reflects the CBE’s keenness on keeping pace with the latest global and technological measures in securing and printing banknotes. It is part of the framework of implementing the clean monetary policy and raising the quality of banknotes in the Egyptian market, in addition to reducing the cost of printing. This is in line with the sustainable development programmes adopted by the state through Egypt’s Vision 2030.
According to the CBE’s statement on Tuesday, the new banknote was designed with a modern and innovative character. It is adorned with the Al-Fattah Al-Alim Mosque as one of the features of the New Administrative Capital, as well as the Pharaonic civilization represented in the statue of Hatshepsut, which reflects the identity of the Egyptian state.
It pointed out that plastic money is flexible, strong, less thick, and has a longer life span. It is also water-resistant, less affected by dust, environmentally friendly, and recyclable. This kind of banknotes is also difficult to make counterfeits of.