Maldives' new banknotes to be printed on Safeguard

The Maldives Monetary Authority announced a new commemorative banknote early this year. The new note would be issued at the end of July. My prediction was 26 July because of the anniversary of the Independence of the Maldives (26 July 1965).

According to a press release from De la Rue they also plan to introduce a whole new series of banknotes which will be printed on Safeguard polymer. "The Maldives Monetary Authority has selected Safeguard for the first entirely new series of banknotes to be issued in Maldives for over 30 years. The MMA held a design competition to select a local artist to work alongside De La Rue’s banknote designers in the realisation of these new notes. Abdullah Nashaath was the winning artist, selected from a large number of high standard entries and his involvement will ensure that the new family, called Randhihafaheh, has an authentically Maldivian look.

The first denomination to be launched will be a commemorative 5,000 Rufiyaa at the end of July followed by the circulating denominations of 10, 20, 50, 100, 500 and 1,000 from October onwards. The existing 5 Rufiyaa will be converted to coin and the 1,000 Rufiyaa is a new high value at the top of the denominational scale."

Previously Safeguard has been used as the material for two commemorative notes from Lebanon and Gambia. This is the first time a whole series is being produced on Safeguard.

Steven Friday 15 May 2015 at 5:57 pm | | news
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