Egypt start printing plastic banknotes in mid-2021

CAIRO – 11 March 2021: The Central Bank of Egypt (CBE) will start printing “polymer” plastic banknotes during the middle of this year by its printing press in the New Administrative Capital, according to the Media Center of the Cabinet.

It added in a statement, Thursday, that printing process will start after reviewing the latest technology in printing money, including the plastic curency "polymer."

CBE seeks to gain full benefit from the advantages of plastic money that European countries have reached, according to the statement.

Meanwhile, the CBE denied the cancellation of dealing with the fiat pound currency in the markets.

The Central Bank stressed the continuation of dealing with all fiat currencies in circulation in the market, including the paper pound, without canceling.

He pointed out that the fiat pound has full discretionary power, and deserves to pay its full value in exchange for goods and services, and citizens have the right to use it naturally in all financial transactions.