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Mon 5 May 2014 10:27 AM

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Kuwait to introduce plastic banknotes in June

Kuwait will bring $17.8bn worth of plastic currency into circulation on June 29, as one of only a handful of countries to use the more durable, secure banknotes

Kuwait to introduce plastic banknotes in June

Kuwait will introduce plastic currency on June 29, as one of only a handful of countries in the world to use the more durable banknotes, according to local media.

The Central Bank of Kuwait said it had received the first shipment of what will be KD5bn ($17.8bn) worth of notes from the British currency printing agency De La Rue.

Plastic banknotes are made from polymer and last significantly longer than paper currency because they are resistant to heat, water, humidity and dust.

They also have greater security features.

Polymer banknotes were developed in Australia, where they were first introduced in 1988. Canada, New Zealand, Papua New Guinea, Vietnam and Fiji are among the few countries to have also introduced plastic currency.

Indonesia and Chile also are in the process of doing so.

In Kuwait, it will be the sixth new release of banknotes since the Kuwaiti dinar came into circulation in 1961.

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khamees 6 years ago

thats not all reasons ( significantly longer than paper currency because they are resistant to heat, water, humidity and dust.)
ther is one more major reason .
any way kuwait will go back to paper banknotes after afew years using polymer>