UAE Rulers hold the new 50-dirham banknote during the launch.

Gulf Today, Staff Reporter

The UAE leaders witnessed on Tuesday the launch of the third issue of the national currency of Dhs50, in line with the UAE’s celebrations of the Golden Jubilee of its union, which was established on 2 December 1971.

The new issue is the first banknote made of polymer material to be circulated in the UAE.

The event was attended by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, His Highness Sheikh Mohamed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, and His Highness Sheikh Hamad Bin Mohammed Al Sharqi, Supreme Council Member and Ruler of Fujairah, His Highness Sheikh Saud Bin Rashid Al Mualla, Supreme Council Member and Ruler of Umm Al Quwain, His Highness Sheikh Saud Bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, Sheikh Sultan Bin Muhammad Bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah, and Sheikh Ammar Bin Humaid Al Nuaimi, Crown Prince of Ajman.

Sheikh Mansour Bin Zayed Al Nahyan, Deputy Prime Minister, Minister of Presidential Affairs and Chairman of the Board of Directors of the Central Bank of the UAE, said that the launch of the third issue of the national currency of fifty dirhams coincides with the celebrations of the UAE in the golden jubilee of its union, which was established in on 2nd of December 1971… The new issue is the first banknote made of polymer to be circulated in the UAE.

Sheikh Mansour added, "We see in this issuance that the UAE has entered a new phase in its history and a renewed pledge to continue the process of economic and social growth. This occasion also allowed us to express our appreciation and gratitude to our founding fathers, by issuing a new 50 dirham banknote to celebrate the passing of Fifty years since the establishment of the UAE.

The front side of the new banknote is decorated with a portrait of the late Sheikh Zayed Bin Sultan Al Nahyan on the right side, and in the middle is the memorial picture of the founding fathers after signing the "Union Document."

A picture of the late Sheikh Zayed Bin Sultan Al Nahyan appears while signing the "Union Document," in addition to a picture of the Union Museum, which witnessed the establishment of the union and the raising of the flag of the state.

In line with its initiatives towards sustainability, the Central Bank is introducing the new issuance of the 50-dirham national currency, as it is the first banknote made of polymer, which is the best material for making banknotes.

Banknotes made of this material are more durable and sustainable than traditional banknotes and last two or more times as long as their counterpart banknotes made of cotton, and can be completely recycled, thus contributing to efforts to reduce the environmental footprint.

The aesthetic characteristics of this issue appear in the distinctive design of the banknote in different shades of violet, and "fluorescent marks" in blue in the center in the form of the state's visual media identity, and a mixture of drawings and inscriptions executed with advanced intaglio printing techniques.

In this issue, the Central Bank was keen to maintain its permanent approach by adding prominent symbols in Braille to help blind and visually impaired people identify the value of the banknote.

The new 50-dirham banknote has advanced security features, as it has been relied on advanced technologies to enhance customer confidence and combat counterfeiting.

It is noteworthy that the new banknote will be available in the Central Bank branches and ATMs in the near future.

The current 50-dirham banknote will continue to be in circulation, a banknote with a guaranteed value under the law.