Scientific tests introduced to control currency fraud

The Central Bank (BDL) has signed a Memorandum of Understanding (MoU) with the National Council for Scientific Research (NCSR), to enhance scientific cooperation between the Lebanese Atomic Energy Commission of the NCSR and the Cash Operations Department of the BDL.

The MoU consists of developing special analysis protocols to conduct reliable scientific studies about the changes of characteristics of paper currency and the relation of these changes with the duration of the circulation of this currency in the market.

The MoU includes the exploration of the new technologies to reveal fraud of paper currency and coins, in addition to the implementation of laboratory tests on the currency to ensure its compliance with standards.

BDL will benefit from the support of the International Atomic Energy Agency, to enhance its ability to perform the necessary testing.