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1 THE NEW RESIZED BANKNOTES. 2 Bank of Sierra Leone INTRODUCTION OF A NEW FAMILY OF RESIZED BANK NOTES SENSITIZATION Presentation by : Mrs. K.R Saccoh.

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Presentation on theme: "1 THE NEW RESIZED BANKNOTES. 2 Bank of Sierra Leone INTRODUCTION OF A NEW FAMILY OF RESIZED BANK NOTES SENSITIZATION Presentation by : Mrs. K.R Saccoh."— Presentation transcript:

1 1 THE NEW RESIZED BANKNOTES

2 2 Bank of Sierra Leone INTRODUCTION OF A NEW FAMILY OF RESIZED BANK NOTES SENSITIZATION Presentation by : Mrs. K.R Saccoh Director Banking Department

3 3 Background The Decision Decision taken in 2008/2009: To discontinue the printing of the existing one-sized bank notes To discontinue the printing of the existing one-sized bank notes To progress to a family of resized banknotes To progress to a family of resized banknotes To maintain the current design themes To maintain the current design themes To enhance the security features to forestall counterfeiting To enhance the security features to forestall counterfeiting To improve durability To improve durability

4 4 Shortcomings of The Existing Notes Difficulty in identifying denominations using feel features only. Difficulty in identifying denominations using feel features only. Easy to mix different denominations in bundles. Easy to mix different denominations in bundles. Incidence of short-payments due to mixing of various denominations in wrappers/packages. Incidence of short-payments due to mixing of various denominations in wrappers/packages. Why Resized Bank Notes?

5 5 Why Resized Bank Notes Cont. Advantages Of The Resized Notes Resized notes will make it easier for the public to separate denominations Resized notes will make it easier for the public to separate denominations Mixed denominations could be easily identified Mixed denominations could be easily identified Visually impaired can sort notes using the size and cricket leg features feature to separate denominations. Visually impaired can sort notes using the size and cricket leg features feature to separate denominations. smaller banknotes are wallet friendly-easy to sort and carry smaller banknotes are wallet friendly-easy to sort and carry More notes can be printed from the same bank note paper More notes can be printed from the same bank note paper The resized notes have enhanced security features The resized notes have enhanced security features Post print varnish applied on notes to enhance durability Post print varnish applied on notes to enhance durability

6 6 Differences In Size Between The Existing Notes And Resized Bank Notes Denomination - Le Old sizeNew sizeSize reduction 1,000155mm x77.5mm135mm x 67mm25% 2, mm x 69mm20% 5, mm x 71mm14.3% 10, mm x 73mm9%

7 7 Differences contd. Visual Differences Different Sizes Enhanced security features Change of signatories Slight change in color in the Le1,000 and Le10,000 notes

8 8 Security Features Of The Resized Bank Notes Three main features Look: for distinct visual features such as the watermark, see through, the thread, cricket legs etc. Look: for distinct visual features such as the watermark, see through, the thread, cricket legs etc. Feel : for unique-ness of the banknote and other touch features, like cricket legs, intaglio etc. Feel : for unique-ness of the banknote and other touch features, like cricket legs, intaglio etc. Tilt: for visual features only visible when tilted in a particular angle or direction Tilt: for visual features only visible when tilted in a particular angle or direction For security reasons not all of the security features are listed

9 9 The Security Features Of The Resized Notes Contd THE SECURITY FEATURES- Le10,000 note Mould made water mark of Lions head See Through Feature Hologram with inscription Le10,000 and BSL Electrotype Blind recognition Cricket Legs" –(Extra Tactile Feature) Intaglio (Raised print)) Starchrome Thread FRONT BACK Mould made water mark of Lions head See Through Feature Hologram with inscription Le10,000 and BSL Electrotype Blind recognition Cricket Legs" –(Extra Tactile Feature) Intaglio Starchrome Thread

10 10 The Security Features Of The Resized Notes Contd THE SECURITY FEATURES Le5,000 notes Mould made water mark of Lions head See Through Feature Hologram with inscription 'BSL Electrotype Blind recognition Cricket Legs" –(Extra Tactile Feature) Intaglio (Raised print) Starchrome Thread Lift Classic FRONT BACK Mould made water mark of Lions head See Through Feature Hologram with inscription 'BSL Electrotype Blind recognition Cricket Legs" –(Extra Tactile Feature) Intaglio Starchrome Thread Lift Classic

11 11 BACK The Security Features Of The Resized Notes Contd THE SECURITY FEATURES- Le 2,000 note Mould made water mark of Lions head See Through Feature Electrotype Kaleidoscope Foil Blind recognition Cricket Legs (Extra Tactile Feature) Intaglio (Raised print) Scroll Thread Lift Classic FRONT BACK Mould made water mark of Lions head See Through Feature Electrotype Kaleidoscope Foil Blind recognition Cricket Legs (Extra Tactile) IntaglioScroll Thread Lift Classic

12 12 BACK The Security Features Of The Resized Notes Contd THE SECURITY FEATURES- Le 1,000 note Mould made water mark of Lions head See Through Feature Electrotype Blind recognition Cricket Legs (Extra Tactile Feature) Intaglio (Raised print) Magtext Thread Lift Classic FRONT BACK Magtext Thread Mould made water mark of Lions head See Through Feature Blind recognition Cricket Legs (Extra Tactile Feature) Electrotype Intaglio Lift Classic

13 13 Watermarks & Electrotypes

14 14 Security Threads Le10000 Le5000 Le2000 Le1000

15 15 See-Throughs

16 16 Intaglio (Raised Print) Front Back

17 17 Holograms & Foils Le10000 Le5000 Le2000

18 18 Public Education Plan The Strategy t Posters Radio/TV Talk Shows Jingle/spots Town crier Newspaper Advertorial BSL Board Preannouncement Outreach Announcement /Press conf. Public Education BSL Management Parliament Commercial Banks Press Conference & Seminar BSL Staff

19 19 Stakeholders Commercial Bank Commercial Bank Community Banks Community Banks Members of Parliament Members of Parliament The Office Of National Security The Office Of National Security Armed Forces Of Sierra Leone Armed Forces Of Sierra Leone The Ministry Of Finance The Ministry Of Finance The Sierra Leone Police The Sierra Leone Police National Revenue Authority National Revenue Authority The Petty Traders Association The Petty Traders Association The Sierra Leone Indigenous Business Men Association The Sierra Leone Indigenous Business Men Association Sierra Leone Association Of Journalists Sierra Leone Association Of Journalists The Bar Association The Bar Association Discount Houses Discount Houses Forex Bureaux Forex Bureaux Freetown City Council Freetown City Council Kenema Town Council Kenema Town Council NASSIT NASSIT The Ministry Of information The Ministry Of information The Ministry of Trade The Ministry of Trade Diplomatic Missions In Sierra Leone Diplomatic Missions In Sierra Leone Sierra Leone Chamber of Commerce Sierra Leone Chamber of Commerce Sierra Leone Labor Congress Sierra Leone Labor Congress Lebanese/Indian Communities In Sierra Leone Lebanese/Indian Communities In Sierra Leone MRU Secretariat MRU Secretariat WAMA WAMA WABA WABA Car Dealers Association Car Dealers Association National Tourist Board National Tourist Board Hotels (Management) Hotels (Management) Casinos ( Management) Casinos ( Management) Educational Institutions Educational Institutions Sierra Leone Teachers Union Sierra Leone Teachers Union National Students Union National Students Union Farmers Associations Farmers Associations Inter-religious Council Inter-religious Council Market Women Association Market Women Association Sierra Leone Medical And Dental Association Sierra Leone Medical And Dental Association Fisher Men Union Fisher Men Union Transport Owners Association Transport Owners Association Sierra Leone Airport Authority Sierra Leone Airport Authority Sierra Leone Ports Authority Sierra Leone Ports Authority United Nations Institutions In Sierra Leone United Nations Institutions In Sierra Leone Sierra Leone Motor Drivers union Sierra Leone Motor Drivers union Civil Society Movement Civil Society Movement Cassettes Sellers Association Cassettes Sellers Association Shipping Agencies Shipping Agencies Paramount Chiefs Paramount Chiefs Local Authorities Local Authorities Chiefdom Elders Chiefdom Elders

20 20 The Pre-announcement Outreach Informed the stakeholders highlighted in the previous slide about activities planned for the introduction of the resized notes. Informed the stakeholders highlighted in the previous slide about activities planned for the introduction of the resized notes. Encouraged their opinion of the plan and suggestions to enhance its effective-ness Encouraged their opinion of the plan and suggestions to enhance its effective-ness Sought their support for the plan and commitment to help promote it in their respective constituencies. Sought their support for the plan and commitment to help promote it in their respective constituencies.

21 21 The Announcement Took the form of a Press Conference at which the announcement will be made by the Governor. Took the form of a Press Conference at which the announcement will be made by the Governor. A seminar for the general public immediately followed the Press conference A seminar for the general public immediately followed the Press conference Launched the start of the public education campaign Launched the start of the public education campaign Broadcasted live on television and synocast on selected Radio stations nation wide Broadcasted live on television and synocast on selected Radio stations nation wide The launch date and the transition plan were announced. The launch date and the transition plan were announced.

22 22 Public Education The campaign sensitizes all public, to ensure that the public recognizable differences between the old and new notes are well known. The campaign sensitizes all public, to ensure that the public recognizable differences between the old and new notes are well known. The promotion of a note handling policy is also a major component of the campaign The promotion of a note handling policy is also a major component of the campaign The emphasis is on effectively communicating the transition plan, especially the gradual nature of the process. The emphasis is on effectively communicating the transition plan, especially the gradual nature of the process. The communication media highlighted in the previous slide are used to communicate the messages. The communication media highlighted in the previous slide are used to communicate the messages. Radio jingles and TV spots are in multiple local languages aired in the regions they are dominant. Radio jingles and TV spots are in multiple local languages aired in the regions they are dominant. Town criers and or megaphone men/women are utilized to spread the message at the border crossing points. Town criers and or megaphone men/women are utilized to spread the message at the border crossing points. The posters are displayed at all commercial banks, hotels, custom posts, educational institutions, Markets, casinos, town halls, local administrative courts, strategic intersections in all district head quarter towns, other strategic townships, all of our embassies and Central Banks in the sub-region. The posters are displayed at all commercial banks, hotels, custom posts, educational institutions, Markets, casinos, town halls, local administrative courts, strategic intersections in all district head quarter towns, other strategic townships, all of our embassies and Central Banks in the sub-region. Parliamentarians, Paramount Chiefs/ chiefdom elders/ local authorities are also provided with quantities of posters for display in their various constituencies Parliamentarians, Paramount Chiefs/ chiefdom elders/ local authorities are also provided with quantities of posters for display in their various constituencies

23 23 Public Education contd The goals of the campaign: The public must know how to get the new resized notes The public must know how to get the new resized notes The public must know how long they can use the old notes The public must know how long they can use the old notes The public must be able to differentiate between the old and resized bank notes The public must be able to differentiate between the old and resized bank notes The public must be able to identify some of the main security features of the resized notes The public must be able to identify some of the main security features of the resized notes The public must know the best ways of handling the notes The public must know the best ways of handling the notes

24 24 Deposit And Withdrawal Of Notes Bank Of Sierra Leone Commercial Banks The General Public New notes Old notes New notes Old notes Destruction of old notes New notes Old Notes Verification Demonetize

25 25 Note Handling Campaign What is it? A component of the sensitization aimed at preserving the life of the notes through better handling A component of the sensitization aimed at preserving the life of the notes through better handling It shows the good and the bad ways of handling the notes. It shows the good and the bad ways of handling the notes.

26 26 The Message Note Handling Campaign Is focused on specific groups and occupations known for extensive handling of banknotes The illustrations depict known bad handling forms The correct form is depicted next to them The messages are in English because literacy is largely in that language. The messages is readable by a primary School pupil The poster is displayed along side that for the resized Notes

27 27 Thank you


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