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Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

The Truth about 20-pound Polymer Note Entering Circulation in Eid Al-Fitr


Sun 09 Apr 2023 | 09:21 PM
Taarek Refaat

Social media users circulated a picture of 20-pound denomination of polymer, claiming that the Central Bank of Egypt (CBE) intends to offer it during Eid Al-Fitr.

Informed sources said that the circulating design for the polymer 20-pound is incorrect, as changes were made to the circulating design, confirming that no date has been set for launching the new banknote category in the Egyptian market.

Lamis Negm, advisor to the Governor of the Central Bank of Egypt denied what was published on some websites and social media.

She said in statements to Al-Esboa that the Central Bank did not introduce plastic currencies except for 10 pounds, and she said that the current design for the 20-pound category of polymer material is incorrect, as changed were made to the current design.

She confirmed that no date has been set for launching the new banknote category in the Egyptian market.

It is noteworthy that the name of Tarek Amer, the former governor of the Central Bank, bears the circulated images.

Polymer is characterized by flexibility, strength, and less thickness, which allows for a longer life span of about 5 times the life of the paper category made of cotton, in addition to being water resistant, environmentally friendly, and much less likely to be counterfeited.