THE NEW RESIZED BANKNOTES

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Bank of Sierra Leone

SENSITIZATION

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

Background The Decision

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

Why Resized Bank Notes?

Shortcomings of The Existing Notes

 Difficulty in identifying denominations using feel features only.

 Easy to mix different denominations in bundles.

 Incidence of short-payments due to mixing of various denominations in wrappers/packages.

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Why Resized Bank Notes Cont .

      

Advantages Of The Resized Notes

Resized notes will make it easier for the public to separate denominations Mixed denominations could be easily identified Visually impaired can sort notes using the size and leg features’ feature to separate denominations.

‘cricket smaller banknotes are wallet friendly-easy to sort and carry More notes can be printed from the same bank note paper The resized notes have enhanced security features Post print varnish applied on notes to enhance durability 5

Differences In Size Between The Existing Notes And Resized Bank Notes

Denomination Le Old size 1,000 2,000 5,000 New size 155mm x77.5mm

135mm x 67mm “ “ “ “ 140mm x 69mm 145mm x 71mm Size reduction 25% 20% 14.3% 10,000 “ “ 150mm x 73mm 9%

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Differences cont’d.

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

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.

 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

For security reasons not all of the security features are listed

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The Security Features Of The Resized Notes Cont’d

Intaglio Mould made water mark of Lion’s head Blind recognition “Cricket Legs" –(Extra Tactile Feature) Electrotype

THE SECURITY FEATURES Le10,000 note

Starchrome Thread

FRONT

Hologram with inscription ’Le10,000 and BSL

BACK •

Mould made water mark of Lion’s head

•

See Through Feature

•

Hologram with inscription ’Le10,000 and BSL’

•

Electrotype

•

Blind recognition “Cricket Legs" –(Extra Tactile Feature)

•

Intaglio (Raised print))

•

Starchrome Thread See Through Feature

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The Security Features Of The Resized Notes Cont’d

Mould made water mark of Lion’s head Electrotype Hologram with inscription 'BSL Blind recognition “Cricket Legs" –(Extra Tactile Feature)

THE SECURITY FEATURES Le5,000 notes

Intaglio Starchrome Thread Lift Classic

FRONT BACK •

Mould made water mark of Lion’s head

•

See Through Feature

•

Hologram with inscription 'BSL’

•

Electrotype

•

Blind recognition “Cricket Legs" –(Extra Tactile Feature)

•

Intaglio (Raised print)

•

Starchrome Thread

•

Lift Classic See Through Feature

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Mould made water mark of Lion’s head

The Security Features Of The Resized Notes Cont’d

Kaleidoscope Foil Blind recognition “Cricket Legs” (Extra Tactile)

THE SECURITY FEATURES Le 2,000 note FRONT •

Mould made water mark of Lion’s head Electrotype

•

See Through Feature

•

Electrotype Scroll Thread Intaglio Lift Classic

BACK •

Kaleidoscope Foil

•

Blind recognition “Cricket Legs” (Extra Tactile Feature)

BACK •

Intaglio (Raised print)

•

Scroll Thread

•

Lift Classic

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See Through Feature

Mould made water mark of Lion’s head Electrotype

The Security Features Of The Resized Notes Cont’d

Magtext Thread Blind recognition “Cricket Legs” (Extra Tactile Feature)

FRONT THE SECURITY FEATURES Le 1,000 note •

Mould made water mark of Lion’s head Intaglio

•

See Through Feature

•

Electrotype Lift Classic

BACK BACK •

Blind recognition “Cricket Legs” (Extra Tactile Feature)

•

Intaglio (Raised print)

•

Magtext Thread

•

Lift Classic See Through Feature

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Watermarks & Electrotypes

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Security Threads

Le10000 Le5000 Le2000 Le1000 14

“See-Throughs”

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Intaglio (Raised Print)

Front Back 16

Holograms & Foils

Le10000 Le5000 Le2000 17

BSL Management

Public Education Plan

The Strategy

Radio/TV Talk Shows BSL Board

t

Outreach Posters Parliament Jingle/spots Announcement /Press conf.

Press Conference & Seminar

Commercial Banks Town crier BSL Staff Public Education Newspape r Advertorial

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                     Commercial Bank Community Banks Members of Parliament The Office Of National Security Armed Forces Of Sierra Leone The Ministry Of Finance The Sierra Leone Police National Revenue Authority The Petty Traders Association The Sierra Leone Indigenous Business Men Association Sierra Leone Association Of Journalists The Bar Association Discount Houses Forex Bureaux Freetown City Council Kenema Town Council NASSIT The Ministry Of information The Ministry of Trade Diplomatic Missions In Sierra Leone Sierra Leone Chamber of Commerce

Stakeholders

               Sierra Leone Labor Congress Lebanese/Indian Communities In Sierra Leone MRU Secretariat WAMA WABA Car Dealers Association National Tourist Board Hotels (Management) Casinos ( Management) Educational Institutions Sierra Leone Teachers Union National Students Union Farmers Associations Inter-religious Council Market Women Association              Sierra Leone Medical And Dental Association Fisher Men Union Transport Owners Association Sierra Leone Airport Authority Sierra Leone Ports Authority United Nations Institutions In Sierra Leone Sierra Leone Motor Drivers union Civil Society Movement Cassettes Sellers Association Shipping Agencies Paramount Chiefs Local Authorities Chiefdom Elders 19

The Pre-announcement Outreach

 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  Sought their support for the plan and commitment to help promote it in their respective constituencies.

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The Announcement

 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  Launched the start of the public education campaign  Broadcasted live on television and synocast on selected Radio stations nation wide  The launch date and the transition plan were announced.

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Public Education

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 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.  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.

 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 22

Public Education cont’d

The goals of the campaign:

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The public must know how to get the new resized notes

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The public must know how long they can use the old notes

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The public must be able to differentiate between the old and resized bank notes

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The public must be able to identify some of the main security features of the resized notes

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The public must know the best ways of handling the notes

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Deposit And Withdrawal Of Notes Old Notes

Bank Of Sierra Leone

Verification

Commercial Banks

Demonetize

Destruction of old notes The General Public

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Note Handling Campaign What is it?



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.

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Note Handling Campaign

The Message •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 26

Thank you

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