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The Maldives Monetary Authority, the country’s Central Bank, has announced that its next series of banknotes will be printed using De La Rue’s Safeguard® polymer substrate.

The new family of notes will consist of denominations currently circulating (10, 20, 50, 100 and 500 Rufiyaa), the new 1,000 Rufiyaa note which is due to be issued in October 2015, plus a new commemorative circulating 5,000 Rufiyaa banknote which will be the first of the new banknote series to be launched at the end of July this year.

A design competition was held by the Maldives Monetary Authority which resulted in the winner, Abdullah Nashaath, being selected to work alongside De La Rue’s banknote designers to create the new banknote family.

‘We are very excited to be introducing these modern polymer banknotes and we are sure that the people of the Maldives will be pleased with their new notes.  We are grateful for all De La Rue’s expertise and assistance as we undertake this important project.” Dr Azeema Adam, Governor, Maldives Monetary Authority

Find out about De La Rue’s Safeguard® product here.

Read De La Rue’s press release here.