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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.”

University Of Cyprus And DegradationLab Launch Solar Research Project

The DegradationLab Strategy Unit in Infrastructure and the University of Cyprus Photovoltaic Technology Laboratory have launched a research project focused on validating a performance monitoring system for next-generation photovoltaic devices.

Named MPPT-Solution, and formally titled “Proof of Concept of Open-Source, Low Cost, And Adaptable MPP Tracking System For Perovskite PV Devices”, the project aims to improve Maximum Power Point Tracking (MPPT) for emerging photovoltaic technologies, including perovskite-based solar cells.

Addressing Hysteresis In Photovoltaic Performance

One of the project’s objectives is to address measurement hysteresis, a challenge associated with several emerging photovoltaic technologies. Researchers are developing an electronic monitoring system designed to track maximum power output more accurately and support performance assessment under varying operating conditions.

Rigorous Testing And Strategic Validation

Launched on March 1, 2026, the project is scheduled to run for nine months. Testing will be conducted under controlled laboratory conditions at the University of Cyprus before moving to field trials involving large-scale perovskite photovoltaic panels. During the outdoor testing phase, international industry partners will collaborate with researchers to evaluate system performance under real-world operating conditions.

Pathway To Commercial Viability

Alongside its research objectives, MPPT-Solution is exploring the development of an open-source, low-cost and adaptable MPPT system for future commercial applications. Project participants expect the technology to contribute to improving the efficiency and monitoring capabilities of next-generation photovoltaic installations.

Strategic Funding And Innovation

Funding is provided by the Cyprus Research and Innovation Foundation through its Proof of Concept programme, which forms part of the broader Smart Development initiative. Support from the programme will enable the development and validation of renewable energy technologies while strengthening research activity in Cyprus.

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