UAE introduces a new banknote for circulation
The new 1,000 dirham banknote, which is composed of polymer material, is being offered for market trading by the Central Bank of the United Arab Emirates. As on Monday, April 10, 2023, it will be accessible in banks and exchange outlets.
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The Central Bank was determined to highlight the success story of the United Arab Emirates by incorporating cultural and developmental images and symbols that reflect the nation's groundbreaking international accomplishments by emulating the forward-thinking vision and ambition that made the UAE's ambition to be one of the forerunners in space exploration a reality.
In order to make it easier for the general public to recognise this new banknote, its design incorporates different and consistent shades of the brown colour that is used in the design of the banknote of the same category already in circulation. The design also emphasises the state's visual media identity and combines images, embellishments, and inscriptions printed using a variety of intricate intaglio and embossed printing techniques.
The deceased Sheikh Zayed bin Sultan Al Nahyan, "may God rest his soul in peace," is depicted on the front face of the object as he examines a mockup of a space shuttle during a 1974 meeting with NASA officials. Also, this goal was accomplished by the Emirates mission to explore Mars in 2021, which was represented in the design by positioning the picture of the "Probe of Hope" above the image of the space shuttle on the front side of this new banknote. The addition of a photo of the astronaut as a security mark that can be seen on the security chips on both sides of the banknote also served to symbolise the arrival of the first astronaut from the UAE.
The new banknote of 1000 dirhams
The Barakah Nuclear Power Plant in the Emirate of Abu Dhabi was featured on the reverse of this new banknote, which will be crucial in the nation's efforts to diversify and sustain its energy sources while lowering carbon emissions.
This new banknote is distinguished by sophisticated security features that incorporate contemporary technologies, such as the technology known as "SPARK Flow® DIMENSIONS," which is used for the first time in banknotes circulated in Europe, the Middle East, and Africa, in order to boost confidence and combat counterfeiting. Also, the UAE is the first nation in the Middle East and North Africa to deploy the largest security foil tape of this kind in banknotes thanks to the "KINEGRAM COLORS®" technology.
Customers who are blind or visually impaired can identify this banknote and assess its worth by touching it in addition to the distinctive security and aesthetic visual features that have been incorporated.
Since it is a guaranteed value banknote as defined by law, this new banknote will be traded alongside the existing currency of the same denomination already in use.
In order to reprogramme their equipment and guarantee the acceptance of this new notes, the Central Bank previously coordinated directly with the affected enterprises that supply cash deposit and withdrawal devices in the nation.
Due to its distinctive designs, technical features, and cutting-edge security markings at the regional level, the Central Bank recently received the prize for the best banknote issuance for the year 2023 with this new notes. The High Security Printing Conference for Europe, the Middle East, and Africa recently took place in Abu Dhabi's capital city, and this was a part of the award ceremony for banknotes and identity papers that was conducted there.
"The launch of this new banknote, which was printed from environmentally friendly polymer material, coincides with the wise leadership's initiative to declare 2023 as the year of sustainability, and embodies the features of the new phase initiated by the UAE," said His Excellency Khalid Muhammad Salem Belama Al Tamimi, Governor of the Central Bank of the United Arab Emirates. As part of the development march and ambitious future goals, this edition also has special technical features to keep up with emerging technologies, as part of our desire to establish the dirham as a global unit of account.