the egyptian pound was also used in anglo-egyptian sudan between 1899 and 1956, and cyrenaica when it was under british occupation and later an independent emirate between 1942 and 1951. it also circulated in mandatory palestine from 1918 to 1927, when the palestine pound was introduced, equal in value to the pound sterling. the national bank of egypt issued banknotes for the first time on 3 april 1899. the central bank of egypt and the national bank of egypt were unified into the central bank of egypt in 1961.