Saturday, October 22, 2011

Uganda Won 2011 Best Banknote Series Award at IACA Conference

The Bank of Uganda has won the 2011 Best Series Award and its 50,000 Shilling note, the Best Note award at the International Association of Currency Affairs (IACA) Conference that took place in Singapore from October 3-7, 2011.

All notes issued within the past 18 months were eligible for the competition.

This is the first time that a Central Bank wins both the Best series Award and the Best Note award.

According to Bank of Uganda Deputy Governor Louis Kasekende, Uganda beat stiff competition from the Philippines and Sri Lanka to win the coveted banking award that is intended to promote and recognize excellence in the currency industry. Kasekende says the banknotes were recognized for excellence in harmonizing aesthetics with security features.

This is the second international award the country receives for its banknotes coming shortly after winning the award for the Uganda 50,000 Shilling banknote as the Best banknote of the Year 2010 by the International Banknote Society. Kasekende says that this is the first time a central bank wins both honours.

The 2010 banknote series was designed along the dual themes of “Gifted by Nature” and “Uganda Through the Times” depicting Uganda’s unique natural endowment, cultural heritage and history. This was the first time Uganda’s banknotes were atheistically designed by indigenous artists.

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