CBE Pumps EGP 2 Billion of New 20-pound Polymer Note

The Central Bank of Egypt (CBE) pumped EGP 2 billion of the new 20 paper banknote, ahead of the Eid al-Adha holiday.

An official source at the Central Bank said that the EGP 2 billion in the 20-pound denomination are currently available in all branches of Egyptian banks, after they were fully pumped since the announcement of their offering on June 20.

The plastic twenty pounds is considered the first monetary denomination to be offered in the Egyptian market using advanced technologies that allow the blind and visually impaired to distinguish it and recognize its value by touching the prominent signs at the top left of the banknote.

The Central Bank stated that the introduction of the new currency helps reduce the cost of printing banknotes, especially the most traded denominations, including the 10 polymer pounds that were previously put on the market, and it is also in line with the goals of the sustainable development program adopted by the state through “Egypt Vision 2030.”

The source pointed out that the “bank” does not currently have the intention to issue new plastic notes of other monetary denominations, contenting itself for the time being with the 10 and 20 Egyptian pounds.

The new 20-pound notes comes with an innovative design, as it expresses the Egyptian will to transform to build the new republic, while preserving the foundations of the ancient pharaonic civilization and the country's Islamic heritage, through the printing of the Muhammad Ali Mosque on the currency.