Tuesday, December 4, 2018
Egypt plans to issue plastic coins starting in 2020, an official source said today at the central bank.
The source pointed out that the beginning will be the category of ten pounds, in order to test the market.
According to some studies and specialized sites in the economy, plastic coins, made of "polymers" for the low impact on the environment compared to banknotes, "banknotes", as well as low cost and long life.
The polymer was first used in Australia's currency industry in 1988 and is now used in over 30 countries around the world, including Canada, Fiji, Vietnam, Mauritius, New Guinea, New Zealand, Romania, Brunei, Nigeria, United Kingdom, Cape Verde, Chile, Gambia, Nicaragua, Trinidad and Tobago.
A study by the Canadian Central Bank of 2016, "The environmental impact of the 3 billion euro banknote life cycle produced in 2003, equivalent to the environmental impact of driving a car throughout the world of 9235 times ".
The study revealed that at the end of the life cycle of paper money, it is usually torn and transported to the landfill. Polymeric sheets that are withdrawn from circulation are torn into granules and used in the production of everyday plastic materials such as furniture from the garden.
The central bank issues plastic coins in 2020 and starts with the "£ 10" category