.png)
00:00
00:00
00:00
BOJ Deputy Governor Natalie Haynes
The Bank of Jamaica (BOJ) has said the new Jamaican banknotes will be more durable than the current notes in circulation, which could reduce costs.
BOJ Deputy Governor Natalie Haynes disclosed that it costs an average $1.4 billion annually to print current banknotes.
She says the cost varies based on the quantities printed.
But speaking Friday on TVJ's Smile Jamaica programme, Ms Haynes said the
new notes will be printed on an upgraded polymer substrate which should enhance durability "by at least 50%".
The new notes will have the images of seven national heroes and four former prime ministers.
Paul Bogle and George William Gordon will appear on the re-designed $50 note.
The $100 will have Marcus Garvey.
Nanny and Sam Sharpe will be on the $500, while the new $1,000 note will have Norman Manley and Alexander Bustamante.
Former Prime Ministers Michael Manley and Edward Seaga will appear on the new $2,000 note.
Two more former Prime Ministers, Donald Sangster and Hugh Shearer, will feature on the $5,000.
Public education campaign
The Bank of Jamaica will embark on a public education campaign ahead of the new banknotes being released.
Ms. Haynes said sensitization sessions will be held with key stakeholders – starting with banks and cash-in-transit firms – while the notes are being produced.
The notes will also be retrofitted for ATMs.
"We will continue to sensitize the public. They are aware now of what it's gonna look like. But in terms of the security features, informing them, conducting sessions, going on road shows – that communication campaign is now rolling out," she said.
Noting the conversation on who should be on the new notes, Ms Haynes reiterated that, by policy, Jamaica's banknotes feature national heroes and deceased prime ministers or premiers.
comments powered by Disqus
All feeds
