14-Jan-2010
The UAE central bank has announced that it plans to build a currency printing unit in Abu Dhabi to print the country’s currency locally. Currently the UAE’s currency is printed overseas in European countries such as the UK and France.
The Central Bank has invited some well-known international companies specialized in modern currency printing technologies to participate in the project. The printing facility is likely to be constructed on a piece of land granted by the Abu Dhabi Municipality, and adjacent to the compound of the Central Bank in Abu Dhabi. The plant will have capacity for expansion to undertake orders from countries in the region, a statement from the central bank said.
The press will print banknotes in all denominations of the UAE currency such as the 5, 10, 20, 50, 100, 200 and 500 and 1000 Dirham banknotes, by using the latest security technologies and printing methods and high-quality printing paper.
The printing house will be provided with tight security arrangements by a team entrusted with the task of monitoring control of printing materials received, and another team to monitor the control of the printed paper currency. The quality of the product will also be monitored to maintain high standards.