Director of the Issuance Department at the Central Bank of Libya: The new five-dinar denomination starts on , February 17th.Pulbished on:
Tripoli, 15 February, 2021 (Lana) Director of Issuance Department at the Central Bank of Libya, Miloud Al-Fartas, confirmed that the launch of the new five-dinar denomination starts on Wednesday, February 17, coinciding with the Libyan peoples’ celebration of the 10th anniversary of the glorious February Revolution.
In a speech on the occasion of the new note offering ceremony, he explained that the old and damaged notes of the five-dinar denomination will be gradually withdrawn to be replaced by the new polymer currency, which has proven its quality as a viable alternative to banknotes made of a mixture of cotton and linen.
Al-Fartas added that the decision to transform the global process of printing on polymer came after important research and evaluation and for several considerations, the most important of which is the durability of use as it lasts for a period of four times compared to the durability of circulation of paper currency, its suitability for the environment, in addition to the economic benefits and high security features.
He said that this new edition of the five-dinar denomination carries the same image and aesthetic and intangible value that was in the previous version of the same category, and was designed according to the latest specifications, most notably the attractive design and its expression on the cultural heritage with the symbolism of the clock tower from the front facade, and the symbolism of the traces of Cyrene in the back.