New banknote to celebrate independence
The Bank of Namibia (BoN) will introduce a new banknote in commemoration of the country’s 30th Independence anniversary celebration on 21 March 2020, but said it will not reveal more details at this stage.
Market Watch sent the BoN the following questions after it released a statement on the new banknote on Thursday: Will the commemorative note be legal tender? If so, what denomination will it be? How many of these notes does the BoN intend to release? How much will it cost to print the new notes? When will the notes be released?
The BoN’s communication and media liaison officer, Fillemon Nangonya, responded as follows: “Further details on the envisaged launch of the commemorative banknote will be communicated to the public in due course.”
In the BoN’s initial statement, the strategic communications and financial sector director, Emma Haiyambo, said the bank is mandated by the Bank of Namibia Act No. 15 of 1997 to issue banknotes and coins as legal tender in Namibia.
“The issuance of commemorative banknotes is common practice among banks all over the world, commemorative banknotes and coins are normally issued by central banks to commemorate national events which are deemed significant to a country or a central bank. Namibia’s currency symbolises independence, national pride and national heritage,” Haiyambo said.
The central bank has issued banknotes and coins, and it will continue to execute the task of national banknotes production in the manner in which “costs are fully absorbed by revenue”, she said. – Own report and Nampa
Market Watch sent the BoN the following questions after it released a statement on the new banknote on Thursday: Will the commemorative note be legal tender? If so, what denomination will it be? How many of these notes does the BoN intend to release? How much will it cost to print the new notes? When will the notes be released?
The BoN’s communication and media liaison officer, Fillemon Nangonya, responded as follows: “Further details on the envisaged launch of the commemorative banknote will be communicated to the public in due course.”
In the BoN’s initial statement, the strategic communications and financial sector director, Emma Haiyambo, said the bank is mandated by the Bank of Namibia Act No. 15 of 1997 to issue banknotes and coins as legal tender in Namibia.
“The issuance of commemorative banknotes is common practice among banks all over the world, commemorative banknotes and coins are normally issued by central banks to commemorate national events which are deemed significant to a country or a central bank. Namibia’s currency symbolises independence, national pride and national heritage,” Haiyambo said.
The central bank has issued banknotes and coins, and it will continue to execute the task of national banknotes production in the manner in which “costs are fully absorbed by revenue”, she said. – Own report and Nampa
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