Photos: Egypt releases first Polymer banknotes 

Photos: Egypt releases first Polymer banknotes 

The Central Bank of Egypt has introduced the ten-pound denomination of plastic (polymer) notes, produced using the latest banknote production lines applied in the world at the new mint house in the New Administrative Capital.

The bank emphasized that none of the previous banknotes of the same category would be canceled and that they would continue to be used and circulated.

CBE said in a Tuesday statement that the introduction of the new currency comes in light of the state’s keenness to keep in pace with the latest global and technological measures in securing and printing the currency in circulation.

It also comes as part of a framework for implementing clean monetary policy and raising the quality rates of banknotes in circulation within the Egyptian market.

In addition to reduce the cost of printing banknotes, especially the most traded categories in the long run due to the longevity of the Polymer notes, in line with the sustainable development programs adopted by the state through Egypt’s Vision 2030.

The CBE explained that the new ten pounds had been designed in a modern and innovative manner.

The new currency was adorned with the Al-Fattah Al-Alim Mosque as one of the landmarks of the Islamic architectural styles in the