Emirates Investment Authority and the Central Bank of the UAE to Establish a Mint

dirhamThe Emirates Investment Authority (EIA) and the Central Bank of the United Arab Emirates have inked a memorandum of understanding (MoU) to create a mint in the United Arab Emirates to meet the bank’s demand of printed currency notes. The Emirates Investment Authority is in charge of constructing and outfitting the mint. Many countries receive their currency bills and other securities printed in France, Switzerland or the United Kingdom.

From a press release by the bank, “The establishment of the mint is mainly aimed at meeting the Central Bank’s entire needs of printed currency notes. A secondary objective would be to market whatever surplus capacity in international markets.”

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