Issue April 20, 2021

 
Overview:
 
  1. IBNS: Bank Note of the Year Award to Banco de Mexico
  2. Haiti: Central Bank announces two new higher denominations
  3. England: Central Bank setting up a Taskforce for a CBDC
  4. Senegal: Health insurance - digital wages instead of cash
 
Announcement
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1. IBNS: Bank Note of the Year Award to Banco de Mexico
 
 
  • The International Bank Note Society (IBNS) announces that its voting membership has selected the Banco de Mexico to receive its annual  “Bank Note of the Year Award” for 2020, for Mexico’s new 100 Pesos polymer banknote.
  • Over 100 new banknotes were released worldwide during 2020 but only 24 were deemed of sufficiently new design to be member nominated.
  • The new 100 Pesos polymer banknote was manufactured by the Printing Works of Banco de México on polymer substrate Guardian™ supplied by CCL Secure (see previous BIN News here)
Side Information to IBNS
  • The International Bank Note Society (IBNS) was founded in 1961.
  • It operates as a non-profit educational organization and in furtherance of such purpose, its objectives are to promote, stimulate, and advance the study and knowledge of worldwide banknotes.
  • Currently the IBNS has over 2,000 members in more than 90 countries.
Link to Source
 
Announcement
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2. Haiti: Central Bank announces two new higher denominations
 
Source: https://haitistandard.com/emission-d... read more, BIN
Please note: Source in French language
 
  • The governor of the Bank of the Republic of Haiti (BRH) announced the issue of two new higher denominations: 2,500 and 5,000 Gourdes.
  • Currently the highest denominations is the 1,000 Gourdes.
  • The Inflation rate is currently on a level by 17.5%
Link to Source
 
Announcement
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3. England: Central Bank setting up a Taskforce for a CBDC
 
 
  • The Bank of England and HM Treasury have announced the joint creation of a Central Bank Digital Currency (CBDC) taskforce to coordinate the exploration of a potential UK CBDC.
  • Additionally, an own CBDC unit was created within the Bank of England.
  • 'The Government and the Bank of England have not yet made a decision on whether to introduce a CBDC in the UK, and will engage widely with stakeholders on the benefits, risks and practicalities of doing so.' For this reason a CBDC Engagement Forum has been created to collect input from financial institutions, civil society groups, merchants, business users and consumers.
Link to Source
4. Senegal: Health insurance - digital wages instead of cash
 
Please note: Report in French language
 
Key Findings from an analysis conducted by the Government of Senegal
  • In Senegal, 8 out of 10 workers are paid in cash.
  • Most are temporary workers and excluded from health insurance.
  • A survey by the Government of Senegal revealed that 77% of temporary workers would be willing to receive their wages digitally if this gave them access to health insurance.
  • If 50% of temporary workers in  Senegal received payments digitally around 45 billion CFA Francs (~USD $80m) francs would be added to GDP per year.
Link to Source
 
Announcement
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