In line with the vision of wise leadership and embodying the UAE’s global leadership role in climate action and a sustainable future, which resulted in the holding of COP28, and coinciding with the country’s celebrations of the 52nd Union Day , the Central Bank of the UAE (CBUAE) announced the issuance of a new AED 500 note made of polymer. This forms part of the third issuance of the national currency project, with distinctive designs and advanced security features.
The banknote design summarizes the UAE’s journey towards sustainability, its pioneering development approach, its global role, its record of climate action and its continued commitment to promoting sustainable solutions. The international community recognized such commitment, as evidenced by the UAE being chosen to host COP28, which aligns with the UAE’s innovative approach and active role in finding solutions to global challenges. The issuance supports the wise leaders’ vision of accelerating the transition process towards a green economy to ensure a future based on sustainable development.
The new AED 500 banknote highlights the sustainable development of the UAE, including cultural and tourism monuments and unique models of sustainability. The obverse includes an image of the bold architecture of the Terra Sustainability Pavilion at Expo City Dubai, a testament to the UAE’s commitment to a sustainable future rooted in the principles established by the late Sheikh Zayed bin Sultan Al Nahyan.
The reverse highlights Dubai’s Museum of the Future, uniting the past with the future as an architectural and engineering marvel. Also highlighted on the reverse of the polymer banknote is an image of iconic monuments, namely the Emirates Towers, and on the right side the Burj Khalifa, which is the tallest building in the world, at 828 meters high and more than 160 flats, it is a lighthouse. of sustainability, since it obtains most of its energy from solar energy.
In a strategic move towards sustainability, the CBUAE opted for a polymeric material, making the new banknote two or more times more durable than traditional banknotes. This material, fully recyclable, significantly reduces its environmental impact.
The aesthetic characteristics of the banknote incorporate a range of harmonious blue tones, reflecting the banknote of the same denomination currently in circulation, facilitating easy identification by the public. Fluorescent blue markings on the reverse mark the national mark of the UAE, enhanced by intricate drawings and engravings using advanced intaglio printing techniques.
Featuring advanced security features, the AED 500 banknote incorporates a multi-coloured security chip technology known as KINEGRAM COLORS, making the UAE the first country in the Middle East to use the largest aluminum strip in this type on the bills. To combat counterfeiting, these technologies were previously employed in the new version of the AED 1,000 banknote, for the first time in the Europe, Middle East and Africa regions.
Remain committed to inclusion; CBUAE has included prominent braille symbols to help blind and visually impaired consumers recognize the bill and determine its value.
The new banknote enters circulation on Thursday, November 30, 2023. All banks and exchange houses have been instructed to program their cash deposit machines and counting devices to ensure perfect acceptance of these new banknotes alongside existing paper and polymer banknotes, the value of which is guaranteed by law.
On this occasion, Khaled Mohamed Balama, Governor of the CBUAEsaying:
“This issuance of the new AED 500 banknote reflects wise leadership’s vision for a sustainable future and embodies the UAE’s distinguished record of development achievements and aspirations in various fields. We at CBUAE are pleased to announce this issuance, coinciding with the celebration of COP28 in the country, which provides an ideal platform to unite the world’s efforts to ensure effective action on sustainability. We also affirm our commitment to ensure an active role in the development path by adopting best practices and technologies in the banknote printing industry, supporting the competitiveness of the financial sector and alignment with sustainable growth trends.”
News source: Emirates News Agency