ALBAWABA – The new plastic issue of Egypt’s 20-pound bill sporting an LGBTQ+ rainbow-similar design has sparked controversy among Egyptians and activists on social media since it was issued last week.
The Central Bank of Egypt introduced a new plastic denomination of the 20-pound bill, in a first step towards switching to plastic currencies.
Several other countries around the world have been following this approach since 1988.
In a press statements, Egyptian economist Hani Aboul Fotouh said that the new Egyptian currency has many advantages. However, he highlighted the watermark used on the currency, which resembles a spectrum of the rainbow.
Turns out, the rainbow watermark is in fact a part of an anti-counterfeit measure introduced in the new issue, he explained.
Advanced printing techniques are used to create a multicolored optical effect that reflects light rays and gives the bill a unique look, he added.
The plastic currency has been introduced so far by about 50 countries as it features:
Improved endurance and durability
Reduced tear as a result of use in market transactions and circulation
It is resistant to moisture, heat and friction
Additional anti-counterfeit features
Hygienic and easy to sterilize
Environmentally sustainable
