Shaikh Mohammad opens banknote printing facility

His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, on Saturday said that the UAE will continue to build its economic capacity in line with the directives of President His Highness Shaikh Khalifa Bin Zayed Al Nahyan and the close follow-up of His Highness Shaikh Mohammad Bin Zayed Al Nahyan, Abu Dhabi Crown Prince and Deputy Supreme Commander of the UAE Armed Forces.

Shaikh Mohammad further said that the UAE’s economic growth will be achieved through the clear strategy laid out in the UAE Vision 2021. The UAE’s success, he said, has created a unique model for human development, as well as for building a sustainable and diverse economy and ensuring the happiness of all members of its society.

His remarks came during the opening of Oumolat Security Printing, a banknote printing company that is the first of its kind in the region. The facility is located in Khalifa Industrial Zone Abu Dhabi (KIZAD).

Shaikh Mohammad, accompanied by Deputy Prime Minister and Minister of Presidential Affairs Shaikh Mansour Bin Zayed Al Nahyan, unveiled a commemorative plaque to mark the official inauguration of the facility, which specialises in printing banknotes. The facility is equipped with fully integrated state-of-the-art security and protection systems.

Shaikh Mohammed was briefed by the Governor of the UAE Central Bank, Mubarak Rashid Al Mansouri, about the facility’s production machinery featuring the latest technology.

Shaikh Mohammed received the first Dh1,000 note printed by the company, which bears the number ‘1’, from Shaikh Mansour.

Present during the visit were Minister of Cabinet Affairs and the Future Mohammad Abdullah Al Gergawi, Minister of State for Financial Affairs Obaid Humaid Al Tayer, and a number of governors from regional central banks.