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Tuesday, 22 October 2019

Egypt central bank to issue plastic banknotes by 2020

Ahram Online , MENA , Wednesday 5 Dec 2018
Views: 4455
Views: 4455

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. 

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