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UAE Central Bank wins award for best new Dhs1,000 banknote

The note boasts distinctive designs and advanced technical features

by Staff Reporter
UAE Central Bank wins award for best new Dhs1,000 banknote

The new Dhs1,000 banknote from the Central Bank of the UAE (CBUAE) has been recognized with the “Best New Banknote” award for 2023 in the regional category.

The note boasts distinctive designs, advanced technical features, and cutting-edge security measures.

The announcement of the “Best New Banknote” award for the CBUAE’s Dhs1,000 banknote was made during the annual Banknote and ID Document of the Year Awards ceremony.

The event was held from March 8-10, 2023 as part of the High Security Printing EMEA conference in Abu Dhabi.

Best New Banknote

The CBUAE’s Dhs1,000 banknote has earned this prestigious award due to the implementation of cutting-edge technical specifications and innovative security features.

The use of polymer material and incorporation of three-dimensional designs are among the noteworthy features of the new banknote that contributed to its recognition.

The CBUAE has incorporated advanced security technologies, used for the first time in the Europe, the Middle East and Africa (EMEA) region as well as the use of multi-coloured KINEGRAM, making the UAE the first country in the Middle East region to issue the largest of its kind surface applied foil stripe in banknotes, WAM reported.

On the other hand, Abu Dhabi hosted the High Security Printing EMEA Conference for the year 2023, which is being organised for the first time in the Middle East region, with the participation of “Oumolat Security Printing Company” affiliated with the Central Bank, and in the presence of 26 central banks, and 280 representatives from 44 countries.

Printing Technology

The three-day event shed light on the future vision and ambitious plans set by the UAE to build a sustainable and globally competitive economy, and the investment opportunities the country has in various fields of technology and innovation, including those related to printing technology.

In his opening speech, Saif Humaid Al Dhaheri, Assistant Governor of the Central Bank of the UAE for Strategy, Financial Infrastructure and Digital Transformation, and Chairman of the Board of Directors of Oumolat Security Printing Company, said, “The UAE provides competitive advantages and an attractive environment for businesses and investments from international companies in various fields, especially those working in the fields of technology and innovation, as the UAE is a vital business hub in the world”.

He stressed on the CBUAE’s eagerness to enhance the country’s position in the field of advanced technologies in printing banknotes, by strengthening the role of Oumolat at a regional and global level.

The conference concluded with a tour organised by Oumolat for the participants at the company’s headquarters in Khalifa Industrial Zone in Abu Dhabi (Kizad), during which they presented the innovative business areas and the advanced techniques used in printing banknotes and other security documents.

tanvir@dubainewsweek.com

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