Sharjah24 – WAM: 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 AED 500 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 AED 500 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 AED 500 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 AED 1000 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, 30 November 2023. 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 AED 500 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."
November 29, 2023 / 10:48 PM
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