Older bank notes will still remain legal tender for now
The Central Bank of the United Arab Emirates has introduced new polymer banknotes for five and ten dirham denominations. The ten dirham notes have already been circulating since Thursday and the five dirham notes will start circulating from Tuesday.
The older bank notes will remain legal tender for now.
The ten dirham note prominently features the Sheikh Zayed Grand Mosque in Abu Dhabi on the front and the Khorfakkan Amphitheatre in the emirate of Sharjah decorates the back.
The five dirham note features the Ajman fort on the front and the Ras Al-Khaimah’s Dhayah Fort appears on the back.
To make them easily identified, both notes have retained the same color scheme as the paper version. The introduction of the notes follows the polymer 50 dirham note that entered circulation in December. The new notes boasts improved security features compared to the older paper notes.
Polymer notes are more durable than their paper counterparts and last two to three times as long before breaking down. The polymer notes can also be fully recycled.
“The new banknote issuance of five and ten dirhams, and previously the fifty dirham note, is a source of great pride and honor,” said Khalid Mohammed Balama, Governor of the Central Bank of the UAE in a statement.
“The new banknotes feature symbols and images that reflect the UAE’s history and heritage, as well as embody the new start to keep pace with the development and modernization aspiration,” he added.