|Bank Negara Malaysia said in a media briefing that it would launch the new polymer notes on Tuesday October 26, 2004.|
Malaysia are following the lead of other countries like Australia, New Zealand and Romania and will begin circulation of polymer bank notes.
The new bank notes issued by Bank Negara will replace the existing paper notes. The design and denominations of the new polymeric bank notes have not as yet been revealed. They also follow on from the plastic RMB50 notes issued in 1998, to commemorate the Kuala Lumpur Commonwealth Games.
Malaysia’s Central Bank would not disclose where the polymeric bank notes were being printed. There are only a handful of companies that possess the ability and technology to produce the plastic notes, of which Australia has the most.
The plastic bank notes are more robust, easier to handle, cleaner and more hygienic compared to the paper equivalents. They are also more tear and water resistant, but most importantly, they are harder to counterfeit than the paper bank notes.
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