Global Courant 2023-04-11 16:12:39
TV presenter Youssef al-Husseini announced that twenty pounds plastic (polymer) banknote will be issued shortly, after citizens have traded the ten pound plastic notes introduced last year.
On his Channel One show “Ninth”, Husseini warned citizens not to distribute alleged images of the new twenty-pound plastic denomination.
“Most of the images that exist now, like the images of the ten plastic notes last year, are not realistic. Don’t circulate unreal images until the Central Bank of Egypt issues £20 images,” he explained.
CBE deputy governor Khaled Farouk previously told Al-Masry Al-Youm that the Central Bank is already working on polymer notes to be printed in the future.
He explains that the bank is importing equipment and devices intended for processing denominations using the braille method in preparation for their use in the coming period.
Farouk said polymer money lasts five times longer than regular notes and is cheaper than paper and metal money.
He said it is similar to paper money but stronger, and helps fight counterfeiting and control the money market.
Farouk noted that it is also environmentally friendly and difficult to write on, resistant to water, moisture and dirt, and does not transmit viruses.