The Central Bank of the United Arab Emirates (CBUAE) announced the debut of two new banknotes on Thursday to encourage sustainable practices and improve environmental standards in the financial sector.
The new banknotes, which come in denominations of five and ten dirhams, are the UAE’s third currency issuance. One of them was released into circulation Thursday.
The new banknotes, which are made of polymer, are thought to be more durable and sustainable than traditional cotton paper banknotes and are predicted to last two to three times as long in circulation. According to the banking regulator, banknotes also have superior technical qualities and security measures.
Banknote of five dirhams:
The new five-dirham notes have the same colour scheme as the present currency of the same value. The front centre face of the banknote has a picture of the Ajman Fort. This old structure bears testament to the UAE’s predecessors’ cultural and historical history. At the same time, the reverse side features an image of Dhayah Fort, one of the UAE’s most prominent cultural sites in Ras Al Khaimah.
Banknote of ten dirhams:
The original green colour is likewise retained on the ten-dirham notes. The Sheikh Zayed Grand Mosque, a religious, national, and cultural monument, is shown on the front centre face. The Khorfakkan amphitheatre, another prominent monument in the emirate of Sharjah, is depicted on the opposite side.
The new ten-dirham banknote went into circulation today (April 21), with the five-dirham banknote following on April 26. The present banknotes in both denominations and the new polymer notes will stay in circulation.
