Cairo – Mubasher: The Central Bank of Egypt (CBE) announced it has plans to launch polymer banknotes by the year 2020, according to a recent statement to the state-run Middle East News Agency (MENA).

The CBE governor Tarek Amer clarified that the new polymer or plastic banknotes are expected to be more durable than the current paper ones.

Issuance of the polymer banknotes will start with a denomination of EGP 10 by Egyptian banks at its printing headquarters in the new administrative capital.

Amer clarified that the polymer banknotes will not be similar to coins, yet will be in the size of the paper currencies in Egypt.