Saudi Arabia will launch plastic coins tomorrow, and Egypt announces a...

The Saudi Arabian Monetary Agency “SAMA” announced its intention to launch the “five riyals” denomination of the Saudi currency made of a substance Polymer Plastic, explaining that it was taken into account in the design and colors of the five-riyal denomination to be similar to the design and colors of the same paper category currently in circulation made of cotton, taking into account the different manufacturing techniques, technical specifications, and security marks for this category.

The Foundation pointed out that the initial quantities of the new category will be put into circulation as of tomorrow 5 October, along with the current five-riyal denomination, and the rest of the sixth-issue denominations in circulation, as official legal currency, and that the new five-riyal denomination has been printed according to The latest standards in the field of polymer currency printing, as it is characterized by many technical specifications and high-quality security marks.

She indicated that the design of this category included on the face of the paper the image of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and the image of the Shaybah field in the Empty Quarter, while the back of the paper included an image of a view of wildflowers from the Kingdom, in addition to the shape of the transparent window that contains decorations derived from the slogan The vision of the Kingdom of Saudi Arabia 2030.

Meanwhile, Gamal Negm, deputy governor of the Central Bank of Egypt, announced that the bank will soon issue “polymer” coins – the material from which the materials are made. Plastic Like the euro – to be used in the printing of the 10 and 20 pounds currency denominations, indicating that these denominations will be printed through the New Administrative Capital Press.

These were not the first statements of the deputy of the Central Bank, as he had opened this file in Parliament, announcing the date of issuance of the plastic currency, in conjunction with the operation of the new printing press for the central bank established in the New Administrative Capital.

This was during the meeting of the Economic Affairs Committee in the House of Representatives, in mid-July, headed by Representative Ahmed Samir, to discuss the observations of the Legislative Department of the State Council on the draft Central Bank bill, which Parliament had approved in all its articles in previous sessions.

Najm added, in his speech during the meeting of the Economic Affairs Committee in the House of Representatives, that the plastic currency will not cancel its old counterpart that is currently in force, and citizens have the right to use it normally without the slightest problem.

The Deputy Governor of the Central Bank explained that the plastic currency differs only in the quality of paper, as the new one will be made of “polymer” and there is no difference in the healing power.

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