Abu Dhabi: The United Arab Emirates saw the inauguration of its first official banknote printing plant on 11th March 2017. The UAE will no longer have to purchase its currency from the UK or France nor its coins at the Royal Canadian Mint.
Instead, the nation will produce their Dirham directly from the new printing facility, located near the seaport in between central Dubai and Abu Dhabi in the Khalifa Industrial Zone of Abu Dhabi (KIZAD).
The plant is operated by the Oumolat Security Printing company, a newcomer to the cash game having been recently established mid last year. Valuing 'integrity, quality, customer focus, teamwork and innovation', the cooperation hopes to 'become the premium choice of central banks for any banknote related matters...'
Sheikh Mohammed bin Rashid Al Maktoum of Dubai, the Vice President and Prime Minister of the UAE, received the first AED 1,000 banknote bearing the number 1. During the ceremony, a commemorative plaque was also presented to him by Sheikh Mansour bin Zaved Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs.
During the inauguration, the Sheikh was briefed by the Governor of the UAE Central Bank Mubarak Rashed Al Mansoori. Although much of that information is confidential, official news outlets report that the newly opened facility boasts state-of-the-art technology and the latest security systems.
We recognise the best way to achieve our goals is to continuously pursue our corporate values: Integrity, Quality, Customer Focus, Teamwork and Innovation.'
Everington, John. "Sheikh Mohammed bin Rashid launches UAE’s first banknote printing plant" The National, Business. March 11, 2017. Accessed April 10, 2017. Image from WAM.
Staff Wrier. "Mohammed bin Rashid Opens ‘Oumolat Security Printing" WAM. March 11, 2017. Accessed April 09, 2017.
Staff Writer. "UAE opens its first banknote printing facility." Arabian Business. March 12, 2017. Accessed April 10, 2017.