Monday 27 June 2022 - 9:03:52 am

CBUAE issues new five and ten dirham polymer banknotes

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ABU DHABI, 21st April, 2022 (WAM) -- The Central Bank of the UAE (CBUAE) has launched two new banknotes, in five and ten dirham denominations, made of polymer and enhanced by advanced technical characteristics and security features.

The new banknotes are the third issue of the national currency, and reflect the CBUAE’s aim to keep pace with the nation’s development and vision in the next fifty years, particularly in the financial and economic sectors. These issues follow the success of the initial 50-dirham polymer note.

The new AED5 and AED10 banknotes highlight the CBUAE’s adoption of sustainable practices and its efforts to develop enhanced environmental standards in the financial sector, and to promote sustainable growth by using environmentally-friendly and recyclable polymer material. They are more durable and sustainable than traditional cotton paper banknotes, lasting two or more times longer in circulation.

The CBUAE continued the approach of the third issue by combining aesthetic characteristics with modern technologies in the design. The distinctive features of these two banknotes include a transparent window featuring a portrait of the late founding father, Sheikh Zayed bin Sultan Al Nahyan, and the logo of the UAE nation brand with fluorescent drawings and inscriptions created using advanced intaglio printing techniques.

In designing the new five dirham banknote, the CBUAE preserved the colour characteristics of the same denomination banknote currently in circulation to make it easy for the public to identify them. Pictures of UAE national and cultural symbols are included in the design. The image of the "Ajman Fort", an ancient monument that bears witness to the cultural and historical legacy of the UAE’s forefathers appears in the front centre face of this banknote, while the image of "Dhayah Fort" in the Emirate of Ras Al Khaimah and one of the UAE’s prominent cultural landmarks, appears in the reverse centre of the banknote.

The new ten dirham banknote has kept its green colour, similar to the AED10 banknote currently in circulation. Its front central face features an image of the Sheikh Zayed Grand Mosque, a religious, national and cultural iconic landmark, which has become a renowned global destination. The centre reverse side contains an image of the Khorfakkan amphitheatre as one of the unique cultural landmarks in the Emirate of Sharjah.

The CBUAE employed the latest international standards and technologies in the two new banknotes, using enhanced technical specifications and high-quality security features (both apparent and latent) to enhance consumers’ confidence and to combat counterfeiting of the national currency. Prominent symbols in Braille to help blind and visually impaired consumers to identify the banknote’s value were added in the banknotes.

The ten and five dirham banknotes will enter circulation on Thursday 21st April and Tuesday 26th April 2022 respectively. Current banknotes of both denominations will remain in circulation along with the new polymer notes, as banknotes whose value are guaranteed by the UAE law.

On this occasion, Khalid Mohammed Balama, Governor of the CBUAE, said, "The new banknote issuance of five and ten dirhams, and previously the fifty dirham note, is a source of great pride and honour. The new banknotes feature symbols and images that reflect the UAE’s history and heritage, as well as embody the new start to keep pace with the development and modernisation aspiration."

He added, "Thanks to the guidance and support of our wise leadership, we look forward with confidence and optimism to the future, to fulfilling more achievements and position ourselves globally. At the CBUAE, we continue our commitment to make the UAE dirham to become a widely-used international currency."

 

WAM/Esraa Ismail/Rola Alghoul