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UAE 500 Dirham Polymer Banknote: Setting High Standards in EMEA Region

The UAE Central Bank’s 500 Dirham banknote has been celebrated as the ‘Best New Banknote Issue for 2025’ in the Europe, Middle East, and Africa (EMEA) region. This honor was announced at the prestigious High Security Printing EMEA conference in Basel, Switzerland.

This cutting-edge banknote, part of the UAE’s innovative third polymer series, has been praised for its advanced security features and a design emphasizing sustainability. Building on the technological advancements of the Dh1,000 note issued in 2023, its stunning three-dimensional design includes the largest surface-applied foil stripe in the Middle East.

Manufactured by Oumolat Security Printing, a subsidiary of the UAE Central Bank, the new note entered circulation on November 30, 2023. It highlights landmarks such as the Terra Sustainability Pavilion in Expo City Dubai and the Museum of the Future, reflecting the nation’s architectural prowess and dedication to green initiatives. Notably, it incorporates Braille symbols, showcasing a commitment to inclusivity.

The shift to polymer not only extends durability but also reduces environmental impact, as these materials are fully recyclable, aligning with the UAE’s vision for a sustainable economy. Similar initiatives can be seen with Cyprus’s own efforts in promoting renewable energy, like those detailed in our article on Cyprus’s Renewable Energy Targets for 2030.

Saif Humaid Al Dhaheri, Assistant Governor of the Central Bank of the UAE, noted, “We proudly lead the region in adopting banknotes with advanced security and sustainable materials. Our dedication to accessibility ensures that everyone, including the visually impaired, can easily identify our banknotes.”

RIF Unveils €16.2 Million Support for Cyprus’ Startups and Established Enterprises

RIF Unveils €16.2 Million Support for Cyprus’ Innovators

The Research and Innovation Foundation (RIF) has announced substantial funding of €16.2 million aimed at propelling Cyprus’s established and emerging businesses into the competitive global market. This funding initiative, targeting both seasoned enterprises and budding startups, is designed to cultivate the swift production of innovative products and services.

Upcoming Funding Calls

The funding will be distributed across three programs: INNOVATE and SEED, with a combined budget of €6.2 million, and the STEP programme, commanding a distinct budget of €10 million for expanding facilities and production lines. These programs collectively aim to supercharge competitive advantage on the international stage.

Focus Areas and Participation

The INNOVATE program welcomes applications from companies in the pilot or market-testing stages, offering up to €1 million per project to enhance commercial production and worldwide distribution capabilities. Simultaneously, the SEED program directs its €3 million budget toward nurturing dynamic, startup ventures, each eligible for up to €500,000 to fast-track their competitive edge internationally.

A notable requirement for INNOVATE program applicants includes submitting audited financial statements and employer obligation documents from the Social Insurance Services.

STEP Program: Shaping Cyprus’ Innovation Future

The STEP program aligns with EU regulations, supporting Cyprus enterprises in developing advanced technologies, efficient green technologies, and biotechnologies. This initiative is anticipated to broaden Cyprus’s production infrastructure significantly.

Getting Ready

Potential participants should promptly prepare their proposals and gather necessary documentation to ensure their submissions upon the open call. Discover how enterprises are leveraging AI innovations to enhance their competitive stance.

Funded by the Republic of Cyprus and the European Regional Development Fund under Thalia 2021–2027, these initiatives promise a well-rounded boost to local innovation.

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