June 2011

Nomination Call – Currency Hall of Fame Awards

06.28.2011
Thumbnail image for Nomination Call – Currency Hall of Fame Awards

The Board of Directors of the International Association of Currency Affairs (IACA) is pleased to announce the establishment of the Currency Hall of Fame to honour distinguished contributors to the currency industry in their home countries and around the world. The Hall of Fame will provide a permanent public record and memorial of the achievements of its members, available to all those who are interested in currency, through the IACA web site.

Read the full article →

Is Polymer The Ultimate Counterfeit Deterrence?

06.20.2011
Thumbnail image for Is Polymer The Ultimate Counterfeit Deterrence?

Counterfeit detection is certainly the most troublesome and costly responsibility for those in the cash handling business. There is not a country in the world that is not impacted by this criminal activity. Perhaps the only thing more costly and difficult than detecting valid counterfeits is the effort that goes into trying to stay ahead of the counterfeiters. With new technologies and an ever increasing criminal appetite for the “easy dollar” (pun intended!) central bankers are constantly having to evolve and refine both overt and covert security features.

Read the full article →

Nigerian Cash Management Reform

06.06.2011
Thumbnail image for Nigerian Cash Management Reform

The Central Bank of Nigeria (CBN) announced a new policy, a reform of the Nigerian payments system to encourage the use of electronic payments. The policy becomes effective on June 1, 2012. The policy would impose penalties on consumer & corporate account holders at banks if they withdraw more than a specified cap amount, in cash, each day. The policy imposes penalties on commercial banks if they fail to rigorously follow CBN’s rules for consumer & corporate accounts.

Read the full article →