UAE Central Bank wins award for new banknote

The Central Bank of the UAE (CBUAE) has won the ‘Best New Banknote’ award for its new Dh1,000 banknote. The distinction was achieved due to the unique designs and innovative security features of the currency note. It was announced at the annual awards ceremony for the ‘Banknote and ID Document of the Year Awards’.

The Central Bank of the UAE (CBUAE) won the ‘Best New Banknote’ award for its new AED1000 banknote. Characterized by unique designs, technical characteristics, and innovative security features at the regional level for the year 2023. This was announced in the annual awards ceremony for the Banknote and ID Document of the Year Awards. Which was held on the sideline of the High-Security Printing EMEA conference in Abu Dhabi from 8-10 March 2023.

The CBUAE has used multi-coloured KINEGRAM in its note making. UAE the first country in the Middle East region to issue the largest of its kind surface applied foil stripe in banknotes, Gulf News reported.

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The United Arab Emirates is bagging multiple awards in recent months. And its standing in the international community is now being recognized. Recently, its passport was ranked number one in the world by Nomad capitalist index. Jumping from its previous position of 35.

“This is largely due to recent changes allowing foreigners to apply for dual citizenship. Which, combined with the travel freedoms afforded by a UAE passport. Plus the country’s business-friendly environment and enviable tax system. Puts the UAE top of our list for 2023,” the report said.

The United Arab Emirates has been in the spotlight for a year due to multiple events. The most recent of which was the Dubai Expo which saw millions of people visit the county. Who was left awe-struck by the progress the country has made in a short period.

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