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The Central Bank of the UAE (CBUAE) Wins Award For AED 1000 Banknote



UAE wins award for AED1,000 banknote

The design of the UAE’s AED 1,000 note has received an international honor. Characterized by its unique design and innovative security features, the new AED 1,000 note issued by the Central Bank of the UAE (CBUAE) has won the ‘Best New Banknote’ award of the year 2023.

It was announced at the Banknote and ID Document of the Year Awards annual awards ceremony in connection with the High-Security Printing EMEA Conference, which was held in Abu Dhabi from March 8 to 10, 2023. This new recognition has marked the Central Bank’s adoption of advanced security features and recent technical specifications in the new AED 1,000 banknote.

A New Technological Advancement in Current Printing

The new AED 1,000 banknote introduced by the Central Bank of the UAE has gained a new accolade. The Central Bank of the UAE introduced the new currency note of AED 1,000 last year on December 2 as part of the country’s 51st National Day celebrations. It became available in the Central Bank’s branches and ATMs in the first half of 2023. The new currency contains three-dimensional designs and is made of polymer material.

UAE’s new AED1000 banknote gets the ‘Best New Banknote’ award

The Central Bank has made use of advanced security technologies in the creation of the new currency, which is being used for the first time in Europe, the Middle East, and Africa (EMEA) region. It has also used multi-colored KINEGRAM, thus becoming the first country in the Middle East to issue banknotes with the largest surface-applied foil stripes of its kind. 

The new currency bears images of the late first president of the UAE, the late Sheikh Zayed bin Sultan Al Nahyan, next to a model of a NASA space shuttle. The theme of the new currency is the emirates’ global achievements in space and clean energy.

The new currency bears images of the late Sheikh Zayed bin Sultan Al Nahyan next to a model of the NASA space shuttle. The inspiration for the new model was a meeting between the sheik and leaders of NASA in 1976, where the sheik told of his intentions to position the UAE among the pioneering explorers of space. 

The High-Security Printing EMEA conference of the year 2023, which is being organized for the first time in the Middle East region, was hosted by Abu Dhabi. The conference had the participation of “Oumolat Security Company”, affiliated with the Central Bank, and the presence of 26 central banks and 280 representatives from 44 countries. 

The event, which lasted for three days, provided insight into the UAE’s ambitious ambitions and future vision for creating a sustainable and globally competitive economy, as well as the investment opportunities the nation offers in a number of tech and innovation-related industries, including printing technology.

Saif, Humaid Al Dhaheri, Chairman of the Board of Directors of Oumolat Security Printing Company and Assistant Governor of the Central Bank of the United Arab Emirates for Strategy, Financial Infrastructure, and Digital Transformation, stated in his opening speech that “The UAE provides competitive advantages and an attractive environment for business 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 also emphasized the desire of the Central Bank of the UAE to enhance the position of the country in the field of advanced technologies in printing banknotes by strengthening the role of Oumolat as a regional and international leader. 

The three-day conference came to an end with a tour organized by Oumolat for the participants at the company’s headquarters in Khalifa Industrial Zone in Abu Dhabi (Kizad). During the tour, they illustrated the company’s innovative business areas and talked about advanced techniques used in the printing process of banknotes and other security documents.

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The UAE Central Bank is in charge of printing the nation’s banknotes. Each note has a watermark of the national emblem on the obverse to prevent counterfeiting. The Emirates Mars Mission “Hope Probe” mission of 2021 is remembered on the new AED 1,000 note, which was introduced in December 2022. The picture titled “Emirates Mission to Investigate Mars—the Hope Probe” has been positioned at the top of the new banknote to the left of the sheik.

This model is intended to showcase the UAE’s distinct status as a global leader in space science and industry. The astronaut symbol that has been introduced as a security mark to both sides of the new notes reflects this as well, representing the entry of the first Emirati astronaut into space.

Other characteristics of the new currency include the use of modern intaglio printing for the images and inscriptions, as well as fluorescent blue markings emblematic of the Emirates in the center. It also has bold Braille icons to denote the value and is in various shades of brown. Since it is made of a recyclable polymer that is more robust and will last two or more times longer than paper, the new banknote is referred to as an indication of sustainable practices.

Content writer and social science researcher with 5 plus years of experience in research. He has published academic and non-academic articles on several online platforms covering wide-ranging subjects. He is also a tech enthusiast, bibliophile, and an avid fan of video games.

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