Emmanuel Tumusiime-Mutebile: Introduction of a CHOGM commemorative banknote in Uganda Address by Mr Emmanuel Tumusiime-Mutebile, Governor of the Bank of Uganda, at the press conference for the official launch of the CHOGM Commemorative Shs 10,000 banknote, Bank of Uganda, Kampala, 20 November 2007. * * * I am pleased to inform you the Bank of Uganda decided to issue a Shs 10,000 CHOGM Commemorative banknote on November 20, 2007 to celebrate and mark Uganda’s hosting of the Commonwealth Heads of Government Meeting to be held in Kampala November 2325, 2007. Central banks worldwide issue commemorative coins and notes to mark important events of national and international interest. In this regard, the Bank has in the past issued the following commemorative coins: 1. FAO 1968 Coin to mark the United Nations World Food Day with the theme ‘ Produce More Food’ 2. Pope Paul VI Coin issued in 1969 to commemorate the Pope’s visit to Uganda. 3. International Year of the Disabled Persons Coin issued in 1981to educate the public about the rights, talents and needs of the disabled throughout the world. 4. Bank of Uganda 20 Years of Service Coin issued1986 to mark BOU’s 20 years of service. 5. The Bank of Uganda 40th Anniversary Commemorative Coin issued in August 2006. Issuing the CHOGM banknote will be the first time the Bank of Uganda is issuing a Commemorative Banknote. The Commemorative Shs10,000 banknote, unlike the previous commemorative coins will be a circulation and transaction banknote. It will circulate side by side with the existing banknotes and coins. It has however been issued in limited quantities and is a one time issue. Immediately after this launch, the Bank of Uganda will distribute the commemorative banknotes to commercial banks for issue to customers in the normal course of business. The Commemorative banknote will be issued in limited quantities and, therefore banks and financial institutions have been requested to issue the CHOGM banknotes randomly to customers together with other circulation notes using the ATMs and in the banking halls. Banks shall accept exchange of existing bank notes and coins for the CHOGM banknote and vice versa. Let me now turn to the features of the Shs10,000 CHOGM Commemorative Banknote. As you can see from the publicity materials and samples, the CHOGM banknote is similar to the current Shs 10,000 banknote in dominant colors gradations and most security features. The distinctive and distinguishing features of the CHOGM banknote from the current Shs 10,000 note are as follows: At the front: 1. CHOGM Logo has replaced the musical instruments vignette, 2. A color shifting windowed security thread has replaced of the silver foil stripe and the embedded security thread. The colour shift is from green to red and is distinguishable when the angle of view is changed. The denominational numeral 10000 and letters BOU are printed on the windowed security thread and can be read from either side of the banknote when it is held up against the light. 3. Gold coloured denomination numerals have been put at the top right-hand corner. This numeral is in raised printed detectable by gently running a finger over it. 4. Green/blue colour shifting denominational numerals has been put at the bottom left corner instead of magenta/green. The colour shift is noticeable when the angle of view is changed. 5. A signature of the Secretary has changed. The signature of the Governor has not changed, but the signatory for Secretary is the Acting Bank Secretary. 6. A printed date on the note is 2007. At the back: 1. The Mountain Gorillas has replaced the Uganda Kob vignette. 2. A Special Feature has been added to the litho design running across the note on the right-hand side between the unprinted area and the Kiira Dam vignette to give greater security. This feature is fluorescent under UV light and gives the design its characteristic light purple colour. We shall be distributing public leaflets and posters to financial institutions and public places (strategic business and commercial places) and through the media to help the public to get acquainted with the features of the CHOGM commemorative banknote. The Bank of Uganda has prepared limited quantities of specially packaged CHOGM Commemorative bank notes for presentation to the Queen and visiting Heads of Government and for sell to Collectors. I look forward to your usual cooperation to ensure that the public understands the purpose, use and features of commemorative bank note. Thank you.