Monday, July 25, 2011
Design Error Forces Recall of New Hong Kong $100 Banknotes
July 25, 2011
A leading Hong Kong bank is apologizing for a design error in a new bank note that will force the notes to be destroyed and replaced.
The bank notes, worth 100 Hong Kong dollars or about 13 American dollars, bear a likeness of the territory's five-petaled bauhinia flower emblem with the petals pointing in the wrong direction. The notes had been reviewed by Hong Kong's monetary authority and reviewed by the government before being unveiled to the public on Friday.
The Hongkong and Shanghai Banking Corporation is one of three Hong Kong banks that are authorized to issue bank notes. In a joint statement with the government, HSBC apologized for the error and said it will pay the costs of redesigning and reissuing the notes, which are expected to go into circulation early next year.
A bank spokeswoman also apologized for the “embarrassment caused to all parties concerned.”