Both Sides of The Coin: The Story of The Central Bank of Barbados 1972-2017

133 Banknote security A systematic programme to enhance the security of the Barbados currency started during the early 1990s. A newly designed $10 note, with enhanced security features, was put into circulation in November 1992. The two and five dollar notes were upgraded during 1995 and between that year and the turn of the century enhancements were made to all of the other denominations. In 1997, there was a major upgrade to the $100 note, the one most likely to be counterfeited, which included the addition of a large value numeral to assist the visually impaired, a windowed security thread and a foil feature. During 2006, procedures for dealing with counterfeit and suspect notes were developed and shared with stakeholders. In the following year the Bank introduced enhancements in the design of all of the currency notes which differentiated the higher denominations from the lower ones. Between 2010 and 2013, an updated counterfeit detection programme featured more regular updates, enhanced public education by way of frequent “Know Your Money” workshops and counterfeit detection seminars, (including for schoolchildren). This was supported by closer cooperation with the Royal Barbados Police Force and the involvement of personnel from De La Rue, the manufacturer of the banknotes. A public survey of consumer preference helped to set the platform for the introduction of a new family of banknotes in 2013. It was the first new series since 1973 and included new and improved security features and tactile marks to assist the blind and visually impaired. After that, the counterfeit detection training was rebranded and a special programme devised for service stations and other establisments targeted by counterfeiters. Vault security The vault, where all the banknotes and coins are kept, was upgraded to international standards in 2002. After the disappearance of a large sum Chapter 4: Maturity, Modernisation and Issues of Governance: 1987 and Beyond