AED 500 polymer banknotes reflecting the UAE's leadership in sustainability are released by CBUAE
The new banknote narrates the tale of sustainability in the United Arab Emirates and its international efforts to host COP28.
Abu Dhabi: The Central Bank of the UAE (CBUAE) announced the issuance of a new AED 500 polymer banknote in conjunction with the nation's celebration of its 52nd National Day. This is part of the third issuance of the national currency project, and it embodies the wise leadership's vision and the UAE's global leadership role in climate action and a sustainable future, which resulted in its hosting of COP28.
The banknote's design perfectly captures the UAE's history of sustainability, its innovative approach to growth, its place in the world, its record of addressing climate change, and its unwavering dedication to promoting sustainable solutions. The UAE's selection to host COP28 is proof of the international community's recognition of this commitment, which is consistent with the UAE's creative thinking and proactive participation in addressing global issues. The announcement is in line with the astute leadership's plan to quicken the shift to a green economy in order to guarantee a sustainable development-based future.
The new AED 500 banknote showcases the UAE's sustainable development, encompassing iconic tourist destinations and cultural sites as well as original examples of sustainability. The front side features a picture of the striking Terra Sustainability Pavilion architecture at Expo City Dubai, which is a symbol of the UAE's dedication to a sustainable future based on the values established by the late Sheikh Zayed bin Sultan Al Nahyan.
The flip side showcases the Museum of the Future in Dubai, an architectural and engineering marvel that connects the past and the future. The reverse side of the polymer banknote features a prominent image of iconic landmarks, including the Emirates Towers. On the right side of the image is the Burj Khalifa, the world's tallest building at 828 meters high with over 160 floors, and it is a shining example of sustainability because it gets the majority of its power from solar power.
The CBUAE chose polymer material as a strategic step towards sustainability, which doubles or triples the durability of the new currency over conventional banknotes. Because it is completely recyclable, this material has a far smaller environmental impact.
The currency's visual elements include a variety of harmonious blue tones that mimic the banknote of the same denomination that is already in circulation, making it easier for the general public to identify. The UAE national brand is displayed on the back in fluorescent blue markings that are complemented with elaborate engravings and designs made with cutting-edge intaglio printing processes.
With the use of multicolored security chip technology known as KINEGRAM COLORS®, the AED 500 banknote introduces sophisticated security measures. This makes the UAE the first nation in the Middle East to use the widest foil strip of its kind on banknotes. These technologies were previously used in the new AED 1000 banknote, the first in the Europe, Middle East, and Africa areas, to fight counterfeiting.
In keeping with its commitment to inclusivity, CBUAE has provided conspicuous symbols in braille to assist blind and visually impaired customers in identifying the banknote and assessing its worth.
Thursday, November 30, 2023, sees the introduction of the new currency into circulation. The law guarantees the value of current paper and polymer banknotes, and all banks and exchange houses are required to program their cash deposit machines and counting equipment to accept the new banknotes seamlessly alongside them.
"This issuance of the new AED 500 banknote reflects the vision of the wise leadership for a sustainable future and embodies the distinguished record of achievements and development aspirations of the UAE in various fields," stated H.E. Khaled Mohamed Balama, Governor of the CBUAE, on this occasion. The CBUAE is happy to announce this issue at this time, which coincides with the nation's hosting of COP28 and offers a perfect forum for bringing together global efforts to guarantee successful sustainable action. Additionally, we reaffirm our dedication to ensuring that we play a proactive part in the development process by embracing industry best practices and technological advancements in the banknote printing sector, bolstering the financial sector's competitiveness, and coordinating with sustainable growth trends."