Gulf
Today, Thurs, Nov 30, 2023 | Jumada Al-Uola 16, 1445
UAE issues new Dhs500 polymer banknote with special design
In line with the vision of the wise leadership,
and embodying the UAE’s global leadership role in climate action
and a sustainable future, which resulted in its hosting of COP28, and
coinciding with the country’s celebrations of the 52nd Union Day, the
Central Bank of the UAE (CBUAE) announced the issuance of a new Dhs500
banknote made of polymer. This is part of the third issuance of the national
currency project, with distinctive designs and advanced security features.
The design of the banknote encapsulates the UAE’s journey in sustainability,
its pioneering development approach, its global role, its track -record of
climate action, and its continuous commitment to advancing sustainable
solutions. The international community acknowledged such commitment as
evidenced by the UAE being awarded the hosting of COP28, which aligns to the
UAE’s innovative approach and active role in finding solutions to global
challenges. The issuance supports the vision of the wise leadership to
accelerate the process of transition to a green economy to ensure a future
based on sustainable development.
The new Dhs500 banknote highlights the UAE’s sustainable developmental
including culture and tourism landmarks and unique models of sustainability.
The front side includes an image of the bold architecture of the Terra
Sustainability Pavilion in Expo City Dubai, a testament to the UAE's
commitment to a sustainable future rooted in the principles laid down by the
late Sheikh Zayed Bin Sultan Al Nahyan.
The reverse side highlights the Museum of the Future in Dubai, bridging the
past with the future as an architectural and engineering marvel. Also
prominent on the reverse side of the polymer banknote is an image of iconic
landmarks, namely Emirates Towers, and the Burj Khalifa on the right side,
which is the world’s tallest building standing at 828 meters high with more
than 160 floors, is a beacon of sustainability as it derives most of its
power from solar.
In a strategic move towards sustainability, the CBUAE opted for polymer
material, making the new banknote two or more times more durable than
traditional banknotes. This material, fully recyclable, significantly
reduces its environmental impact.
The aesthetic features of the banknote incorporate a range of harmonious
blue shades, mirroring the banknote of the same denomination currently in
circulation, facilitating easy identification for the public. Fluorescent
blue markings on the reverse side marks the UAE nation brand, enhanced by
intricate drawings and engravings utilising advanced intaglio printing
techniques.
Introducing advanced security features, the Dhs500 banknote incorporates
multi-coloured security chip technology known as KINEGRAM COLORS, marking
the UAE as the first country in the Middle East to utilize the largest foil
strip of this kind on banknotes. To combat counterfeiting, these
technologies were previously employed in the new version of the Dhs1,000
banknote, a first in the Europe, Middle East, and Africa regions.
Remaining committed to inclusivity; CBUAE has included prominent symbols in
braille to help blind and visually impaired consumers in recognising the
banknote and determining its value.
The new banknote enters into circulation on Thursday, (Nov.30). All banks
and exchange houses are instructed to programme their cash deposit machines
and counting devices to ensure seamless acceptance of this new banknotes
alongside existing paper and polymer banknotes, whose value is guaranteed by
law.
On this occasion, Khaled Mohamed Balama, Governor of the CBUAE, said: "This
issuance of the new Dhs500 banknote reflects the vision of the wise
leadership for a sustainable future and embodies the distinguished record of
achievements and development aspirations of the UAE in various fields. We at
the CBUAE are pleased to announce this issuance, coinciding with the
country’s hosting COP28, which provides an ideal platform to unite the
world’s efforts on ensuring effective sustainability action. We also affirm
our commitment to ensuring an active role in the development journey by
adopting the best practices and technologies in the banknote printing
industry, supporting the competitiveness of the financial sector, and
aligning with sustainable growth trends."
WAM