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Egypt’s cabinet has approved initially on Wednesday a partnership agreement between the Egyptian Coinage Authority and the British Royal Mint to establish British-Egyptian mint in the Suez Canal Economic Zone (SCZone), alongside issuing and minting tow-pound coin to be put into circulation.
This approval comes within the framework of the Ministry of Finance’s aspiration to establish a partnership that goes beyond the idea of transferring technical expertise only.
This step aims as well to make Egypt a leading regional hub for the production and minting of Arab, African and Middle Eastern currencies, depending on local inputs in the manufacture, instead of importing it as raw discs.
The Central Bank of Egypt (CBE) issued plastic ten pounds notes as it had produced using the latest banknote production lines applied in the world in the new printing house in the New Administrative Capital.
