Latest NewsNewsTFT News

LOOK: UAE releases new AED1000 bill

In line with the UAE’s wise leadership’s vision, the UAE’s strategy, and future aspirations, and as part of the UAE’s 51st anniversary celebrations, the Central Bank of the UAE (CBUAE) has launched a new AED1000 banknote made of polymer and featuring innovative designs and advanced security features.

The new AED1000 banknote, the fourth in the Third Issuance of the National Currency Project, is part of the Central Bank’s overall strategy to enhance the UAE’s financial system.

The CBUAE was keen to highlight the spirit of the union and the UAE’s success story in the design of the new banknote, using images as well as cultural and development symbols that reflect the UAE’s pioneering global achievements, which boosted its position amongst developed countries in record time.

The portrait of the late Sheikh Zayed bin Sultan Al Nahyan appears on the face of the new currency, with a mockup of a space shuttle. This was inspired by the late Sheikh Zayed bin Sultan Al Nahyan’s encounter with the pioneers of the American space agency NASA in 1976, to reflect the founding leader’s desire to position the UAE among the pioneering explorers of space.

This goal was realized in the Emirates Mars Mission “Hope Probe” journey in 2021, and it was embodied in the new banknote by placing the image entitled “Emirates Mission to Explore Mars – the Hope Probe” at the top of the banknote, to the left of the late Sheikh Zayed image, to highlight the UAE’s unique global position in space science and industry.

This aspiration was also expressed in the addition of an astronaut picture as a security mark on both sides of the banknote to commemorate the arrival of the first Emirati astronaut in space.

The Central Bank also wanted to highlight another worldwide success for the UAE, thus an image of the Barakah Nuclear Energy Plant in the Emirate of Abu Dhabi was included on the back side of the new currency. The Plant will play an important role in diversifying the country’s energy sources, reducing carbon emissions, and allowing the UAE to satisfy its international commitments in this area.

The new AED1000 banknote emphasizes CBUAE’s ongoing attempts to embrace sustainable practices by utilizing recyclable polymer material, which is one of today’s top contemporary features in the creation of banknotes. They are more durable and sustainable than typical paper banknotes, lasting twice as long or more.

This new banknote’s design features distinct visual qualities, including several colors of brown. To make it easier for the public to identify, the CBUAE retained the color characteristics of the same denomination banknote currently in circulation, as well as the fluorescent blue marks of the UAE nation brand in the center and drawings and inscriptions created using advanced intaglio printing techniques.

Furthermore, the CBUAE is the first in the GCC and MENA areas to issue the largest multi-colored KINEGRAM surface applied foil stripe on a banknote. This is in accordance with the UAE’s aim to boost consumer trust and prevent money counterfeiting, making the UAE the first country in the GCC and MENA areas to issue the biggest surface applied foil stripe in banknotes.

In this issue, the CBUAE maintained its regard for all banknote users by including large Braille symbols to assist blind and visually impaired consumers in determining the value of the denomination.

In the first half of 2023, the redesigned banknote will be accessible at Central Bank offices and ATMs. The existing AED1000 note will remain in circulation as a banknote with legal tender value.

On this occasion, Khaled Mohamed Balama, Governor of the CBUAE, said: “The issuance of the new AED1000 banknote comes under the vision of UAE’s President His Highness Sheikh Mohamed bin Zayed Al Nahyan, to keep-up with the comprehensive development our country is witnessing, and represent UAE’s global achievements and successes, as well as highlight its future ambitions in various sectors.”

He added: “We work in accordance with the vision of our wise leadership, and the directives of H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister, Minister of the Presidential Court, and Chairman of the CBUAE Board of Directors, in transforming strategic plans, businesses and various projects into reality. This comes in line with our aim to develop the financial sector in the country, and realise CBUAE’s vision to be among the top central banks globally in promoting monetary and financial stability, supporting the UAE’s competitiveness and to boost the dirham’s position as an international currency.”

Staff Report

The Filipino Times is the chronicler of stories for, of and by Filipinos all over the world, reaching more than 236 countries in readership. Any interesting story to share? Email us at [email protected]

Related Articles

Back to top button