in 1834, a khedival decree was issued, adopting an egyptian currency based on a bimetallic standard (gold and silver) on the basis of the maria theresa thaler, a popular trade coin in the region. the egyptian pound, known as the "geneih", was introduced, replacing the egyptian piastre ("ersh") as the chief unit of currency. the piastre continued to circulate as of a pound, with the piastre subdivided into 40 para. in 1885, the para ceased to be issued, and the piastre was divided into tenths ( " 'oshr el-ersh"). these tenths were renamed milliemes ("malleem") in 1916.