New currency processor for Central Bank

The Central Bank yesterday concluded a contract with De La Rue International Ltd for the supply and maintenance of a currency processing system.

The new processor, a CPS 1500-5, can handle 1,500 banknotes per minute and will be used for the authentication and quality sorting of both Maltese lira and euro banknotes.

The Central Bank said that the new system will enhance its banknote sorting facilities to three times their present level.

This increase in processing facilities, it said, was being undertaken both in order to deal more efficiently with the existing market demand for cash and in anticipation of the additional workload that will be created by the forthcoming changeover to the euro.

The contract was awarded to De La Rue following an international call for tenders. It was signed by Luc Dorget, Southern Europe Sales Manager for De La Rue Cash Systems and by David Pullicino, deputy governor of the Central Bank of Malta.

The Central Bank has had a long standing relationship with De La Rue, which operates currency printing works in Malta and is also the supplier of Maltese lira banknotes.