Bank of Uganda has the sole right to print/mint, issue and destroy banknotes and coins in Uganda.
The Bank is responsible for the bulk distribution of banknotes and coin and to meet the public demand. It makes virtually no difference from the Bank's broad monetary policy perspective whether the public holds cash, demand deposits at banks.
A banknote is deemed mutilated when its condition requires special examination to consider the value, if any, to be paid. Such banknotes could be burnt, discoloured, decomposed, damaged with portions missing and/or contaminated.
Guidelines for redeeming mutilated banknotes
Public awareness campaigns are ongoing to ensure that as many Ugandans as possible are informed about the security features of the banknotes so as to encourage the public, to check their money to make sure that they have real money.
Security Features on Uganda Shilling banknotes
Banknotes have always been prone to counterfeiting. It is up to the designers and manufacturers of banknotes to deter potential counterfeiting, drawing on the expertise of the technologists, the printers and banknote paper manufacturers.
Advances in computer technology have resulted in more people having the ability to produce counterfeits. Technological advances mean that the lawful issuer has to follow the advances in technology closely and introduce security features to keep ahead of the counterfeiter.
New security and technical feature developments are therefore continuously being investigated.
The current 2010 series has been created using the world’s most advanced technology; the sizes of banknotes have also been adjusted to gain both ease of handling and ease of denominational separation. This is why the banknotes are difficult to counterfeit successfully. However, all these technological safeguards mean very little if members of the public do not take note of them, are not on the lookout for forgeries and do not report them immediately.
While the Bank has certainly created money the country can be proud of, it is up to every citizen to protect ourselves and the integrity of the country's money against counterfeiters.
Security features to look for:
What you should do when receiving a banknote