There is no official confirmation of this. Will Egypt issue a new currency similar to 10 pounds?

Egyptian social media activists have spread the news that the Central Bank of Egypt will be issuing new £5 plastic coins after the release of £10.

For his part, banking expert Maged Fahmi, a former head of the Industrial Development Bank, said that while talking about the issuance of a new plastic currency by the central bank in denominations of 5 pounds, there is nothing yet to confirm this.

Fahmi added that the Central Bank of Egypt is looking to expand the issuance and printing of polymer currencies, announcing the forthcoming issuance of a new 20-pound plastic currency in the Egyptian market, which will be distributed to Egyptian banks in the coming weeks.

The banking expert also confirmed that the new £10 or plastic had already been distributed and paid out from various bank branches, coinciding with the blessed Eid al-Adha holiday to be gifted and exchanged as a holiday, adding: “A valid central bank directive, according to which all currencies should be plastic, and this is also a global trend.”

He pointed out the advantages of the new 10-pound plastic coins, which are widely accepted on the Egyptian street, as they are as good as European currencies such as the euro and pound sterling in design and quality, as it is more difficult to counterfeit and safer, and many other advantages.

Source: at home

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