The Bank of Zambia (BoZ) says it will this month offload upgraded bank notes with new security features.

But the central bank has assured that it will not withdraw the existing notes until the end of their circulation life and that both notes will co-circulate.

In a statement issued, Tuesday, BoZ stated that the move was aimed at strengthening security of the notes against counterfeiting especially following the advancement of technology.

“The Bank of Zambia would like to inform the public that it will be issuing into circulation bank notes that have been upgraded with new security features. The new security features have been included in order to strengthen the security of the bank notes against counterfeiting and for easy verification by members of the public. As you are aware, advances in technology have provided counterfeiters with ever-improving methods for imitating genuine banknotes. The Bank, therefore, will always take measures that ensure the Zambian bank notes are adequately protected from counterfeiting. This includes continually adopting more advanced security features that safeguard the integrity of the national currency. At the same time, the authenticity of the bank notes must be easy to verify,” BoZ announced.

The central bank also stated that the upgraded notes will be offloaded in phases starting with K2 and K5 denominations.

“The Bank has upgraded the Zambian bank notes as follows: (i) K20, K50 and K100 denominations (a) A new security feature called SPARKLIVE has been incorporated in the figure on the lower right hand side to further shield these bank notes from being counterfeited. This security feature will exhibit three overt visual characteristics i.e. colour- shift properties, optical brightness and dynamic light effects, (b) A 5mm optically visible four window security thread with micro optical dynamic effects has replaced the hologram on the three denominations, (c) The ‘birds in flight’ feature has shifted from the right edge of the back of the bank note to the left edge, (d) “The tactile mark” for the visually impaired have now been put on both edges of the bank notes to enhance tactility or the feel effect. (ii) K10 denomination, (a) A new four-window security thread will replace the hologram on the front of the bank note, (b) Tactile marks for the visually-impaired have been put on both edges of the bank note to enhance tactility. (iii) K2 and K5 denominations (a) Different (dove, text K2 and K5) appear as a new glossy varnish with a blind embossing for ease of identification, (b) Tactile marks for the visually-impaired have been put on both edges of the banknotes to enhance tactility,” BoZ added.

However, the central bank assured that it will not withdraw the existing notes until the end of their circulation life and that both notes will co-circulate.

“The Bank wishes to also advise the public that all other features on the bank notes will remain the same. The public is further advised that the Bank will start circulating the upgraded bank notes in a phased manner, starting the with K2 and K5 denominations in August, 2018. The Bank will not withdraw the existing banknotes until the end of their circulation life. This means that the existing banknotes will co-circulate with the upgraded series and will continue to be honoured at full value,” read the statement.