Our Network

Register for our free newsletter

 
 
Latest News

Tight security on new currency

UAEcurrencydirham

We have all seen the amended DH500 currency bill with additional security measures. Now the Central Bank is distributing an amended AED 50 and more to come...

July 23, 2012 1:19 by



As the Central Bank of the United Arab Emirates, along with the country’s banking industry become more security savvy, they have announced a new AED 50 note will be put into circulation soon.

In November 2011, the CBUAE had issued a new AED 500 note that possessed extra security measures and highlighted features; all in effort to reduce scams, laundry and financial fraud.

Some of the new features of the note included a see-through window on the front side of the note, the value 500 appeared in ornamental circles on top of a bright background, an optically variable stripe that displays the National Anthem, a silver metallic thread replaced by a 3mm color shifting window threat and the metallic silver ink at the bottom left replaced by a multicolor latent image.

However, with the newly amended 50 Dirhams note, the bank explained that the overall design and other specifications of the currency will remain the same and that the main distinction will be a reprinting through replacing the silver metallic thread on the front of the note with a broader colour shifting thread.

 

 

 

The thread will read “UAE 50”.

This amended currency note will be put in circulation as legal tender along with the currency notes currently in circulation with effect from Monday 30 July 2012. However, there are still reports of complaints that many ATMS are not accepting the “new” 500 AED currency note even after several months of its release.

According to a report by Khaleej Times, it is said that the new bill will also contain hidden security elements that can only be seen under ultraviolet rays. There are fibers distributed across both sides of the note to maximize security and prevent forgery.

One can only hope that while security improvements are becoming progressively impressive, that communication procedures improve so that we not only feel safer with amended currency notes but so we can actually deposit them and have them recognized.



0

Tags: , , , ,

Leave a Comment