Khaled Farouk, Sub Governor of Central Bank of Egypt’s Banknote Printing House, said that a new 20-pound (EGP) banknote made of polymer will be issued by the year end or by the beginning of the next year, after completion of its design and final approval.
The central bank had introduced the new EGP 10 note made from polymer using the latest production lines at its new banknote printing house located in New Administrative Capital (NAC). According to an earlier statement, the bank said that this was to keep pace with the latest global and technological measures in securing and printing the currency in circulation.
Farouk explained that the idea behind designing the new EGP 20 notes also in Braille for people of determination is part of the state’s policy for empowering people with special needs and to enhance their involvement in society.
The Sub Governor said that the Central Bank of Egypt (CBE) would be hiring the expertise of a group of international companies, including the likes of British company De La Rue, in designing and producing the banknotes using secure polymer substrates and security features.
Polymer notes have greater durability and recyclability than cotton paper banknotes. Being water-resistant and less affected by dust, they last longer in circulation and are totally recyclable at the end of their life. Over and above all, they come with high-quality security features that help combat counterfeiting of the national currency, say sources at the bank.
