Saturday, January 12, 2013

Morocco introduces new bank note

Morocco has issued a new banknote of MAD 25 ($ 2.94)

The Moroccan mint - Dar As-Sikkah - was inaugurated by King Hassan II on March 5th 1987. As the new MAD 25 comes to commemorate the 25th anniversary of the inauguration of Dar-As-Sikkah the back of the note carries a print vignette commemorating 25 years of banknote printing at the Moroccan State Printing Works.

The Moroccan Dar As-Sikkah has printed 4.2 million banknotes in the form of MAD 25 with a limited edition of 200,000 available to collectors. The notes have been produced by Fortress Paper Ltd who say it is the world's first banknote printed on the Company's innovative paper-polymer-paper composite produced at its Landqart mill in Canada.

The front of the banknote features an Intaglio vignette and a watermark of King Mohammed VI, and a magenta/green colourshift security thread. The thread, like the watermark, is embedded inside the banknote yet visible behind a one-sided polymer window. It also has a fully transparent polymer window embossed with the King's royal crest.

The windows in what the company calls a "Durasafe" note are formed by die cutting each side of the three layer composite substrate separately. One sided windows give a clear view inside the substrate where the security thread and the watermark of King Mohammed VI are protected, but fully visible behind the polymer core. The transparent window is created by die-cutting both the outer paperlayers to reveal only the transparent polymer core.

Chadwick Wasilenkoff, President and Chief Executive Officer of Fortress Paper, commented: "After a decade in development, we are pleased to see the fruits of our labour in the launch of the Moroccan 25 Dirhams. We have designed the ideal characteristics of polymer and traditional paper notes to create a new standard for high security banknote substrates. Fortress Paper would like to congratulate the Bank al Maghrib on the launch of their new 25 Dirham banknote and being the first in the world to produce and launch these high security Durasafe banknotes."

The new MAD 25 paper bill is available in the market and people have started using it in their daily commercial activities.

It should be noted that Morocco is among the few countries which design and print its money, and several other countries print their money in the Moroccan treasury.


1 comment:

Anonymous said...

May God Bless the King