FOLLOWING THE REVOLUTION IN LIBYA IN 2011, ONE OF THE FIRST TASKS OF THE CENTRAL BANK OF LIBYA WAS TO REPLACE THE LIBYAN BANKNOTES, WHOSE DESIGNS REFLECTED THE OLD REGIME. DE LA RUE WAS AWARDED THE CONTRACT AT THE END OF 2012 FOLLOWING A ROBUST INTERNATIONAL TENDER PROCESS AND JUST 3 MONTHS LATER, ON 17 FEBRUARY 2013, THE FIRST OF THE NEW BANKNOTES WAS INTRODUCED INTO CIRCULATION.
London, 13 June 2013:
Today the new LD50 is being released, the third of the new family of banknotes. On 17 February 2013 to mark the second anniversary of the revolution, the new banknote series was launched in Libya. De La Rue was honoured to have been given the opportunity to work with the Central Bank of Libya on the design and production of the new banknote series that includes 1, 5, 10, 20 and 50 Dinar notes. The LD1 and 20 have already been issued and today the new LD50 is entering circulation.
Central Bank of Libya’s Governor H.E. Saddek Omar Elkaber said; “Following the revolution in 2011 it was essential to replace the existing banknote series to reflect a new start for the country. We conducted an international open tender and due to their wealth of experience and track record of performance, we were very pleased to award the contract to De La Rue. We are delighted with the banknotes and very grateful that De La Rue was able to deliver them in such a short timescale.”
The award winning De La Rue design team worked in close cooperation with the Central Bank of Libya to create notes that captured some iconic images of the country. The 1 Dinar note was the first note to be issued and was specifically introduced to commemorate the 2nd anniversary of the revolution. The design on the front of the note shows a scene of a crowd celebrating the revolution. On the reverse, 17 doves have been included in the design alongside the new Libyan flag, symbolising freedom and commemorating the liberation date.
De La Rue’s Chief Executive Officer Mr Tim Cobbold said; “ De La Rue was delighted to be awarded this very prestigious contract and at such an important time in Libya’s history. The fact that we were able to deliver the notes in just 3 months rather than the usual 24 months for the design and production of a new series of banknotes reflects the excellent working relationship that has been established between the Central Bank of Libya and the De La Rue team.”
ENDS
For further information:
Rob Hutchison
Group Director of Communications De La Rue
Tel: +44 (0) 1256 605018
Email: rob.hutchison@uk.delarue.com
