15 April, 2024
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Egypt’s cabinet approves issuance of LE2 coin

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The Cabinet, during its weekly meeting on Wednesday initially approved a proposal to conclude a partnership agreement between the Public Treasury, the Egyptian Mint and the UK’s Royal Mint to establish a British-Egyptian mint in the Suez Canal Economic Zone, alongside the issuance of an LE2 denomination coin.

This comes out of the Ministry of Finance’s aspiration to establish a partnership beyond ​​transferring technical expertise – more based on participation in the production and operational process – with the aim of settling metallurgical industries in Egypt.

The step aims as well to make Egypt a leading regional hub for the production and minting of Arab, African and Middle Eastern currencies, depending on local inputs in the manufacture, instead of importing it as raw discs.

The post Egypt’s cabinet approves issuance of LE2 coin appeared first on Egypt Independent.

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