Thinking of heading to the Maldives and enjoying the sunny side of life?
In July 2017, the Maldives Monetary Authority is anticipating introducing a new 5-rufiyaa polymer banknote. As with many new bank notes produced, the Rufiyaa is printed on a type of polymer and signals the end of the cotton-paper based money; favouring a more secure mode of currency.
The currency is produced by UK-based company, De La Rue; one of the world’s largest banknote printers and passport manufacturers, having printed Maldivian banknotes since 1947. Physical dots are placed within the notes to aide visually impaired users and add a further security measure to the Maldivian currency to prevent counterfeiting.
The Ran Dhihafaheh (Golden 50) note series, designed by Maldivian artist Mr. Abdulla Nashaath and consisting of the 10, 20, 50, 100, 500 and 1,000 denominations, was launched on November 1st 2016 and circulated January of that year.
The new notes were commissioned to celebrate the Maldives’ golden jubilee of independence in 2015 and announced by President Abdulla Yameen. The 5 Rufiyaa note is the last in the series to be produced and will finally replace the last of the existing notes, in circulation since 1983.
As seems to be the theme (Russian and Canadian), a public competition was held to choose the artist to re-design the new banknotes and over 200 people submitted proposals. After three rounds of judging, Mr. Abdulla Nashaath was declared the winner. Each note has a different colour scheme and conceptual theme. Mr. Nashaath’s design “represents the Maldives, and the identity of Maldivians” and “attempts to encapsulate all the innate factors that define our country, and our ancestral identity,” the central bank said.