Author Topic: Egypt: Plans to Issue Polymer Banknotes by 2020  (Read 54 times)

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Offline Bimat

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Egypt: Plans to Issue Polymer Banknotes by 2020
« on: December 05, 2018, 03:47:32 PM »
Egypt central bank to issue plastic banknotes by 2020

Ahram Online , MENA , Wednesday 5 Dec 2018

Egypt plans to issue plastic banknotes by 2020, the governor of the central bank said on Tuesday.

Tarek Amer told state news agency MENA that the move to adopt polymer notes would help ease cash movement in the Egyptian markets, reduce printing costs and improve the quality of notes.

Polymer banknotes are harder to fake than paper banknotes, due to security features including the use of metameric inks. They are also more durable and last significantly longer than paper notes, which helps reduce their environmental impact and cuts the cost of production and replacement.

Source: Ahram
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Offline Figleaf

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Re: Egypt: Plans to Issue Polymer Banknotes by 2020
« Reply #1 on: December 08, 2018, 12:57:47 PM »
It is a long time ago since I was in Egypt. I remember tattered, faded banknotes, sometimes offered in several pieces and reassurances that they remain acceptable as long as the serial number is still complete. A polymer note would bring relief, I suppose, but Egyptians, like my granddaughters, have an amazing capacity to degrade without trying ;) It will be interesting to see what the new notes look like when some time has passed.

Peter
An unidentified coin is a piece of metal. An identified coin is a piece of history.