As reported by Ahram Online, The Central Bank of Egypt (CBE) is planning to issue Polymer banknotes for the first time in June.
The issuance of the banknotes coincides with the inauguration of the new printing house in the New Administrative Capital this June
In 2018 the decision to issue polymer banknotes was first announced and was planned to be implemented by 2020.
The CBE has finished all of the studies that are required to issue the first polymer banknotes and cooperated with local and international companies in picking the designs.
The CBE was keen to issue polymer banknotes as they are known to be more durable, therefore they last longer.
They are made of eco-friendly materials and are resistant to moisture, water and microbes. Polymer banknotes are also harder to counterfeit.
The new printing house in the New Capital, east of Cairo, is the largest across the country and has the capability to print all categories of paper and polymer money and has four production lines.
In Egypt it is illegal to distort or write on paper banknotes, this law was approved by the parliament in May last year but no penalty for such an act has been approved yet.
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