CBA to put into circulation new banknote dedicated to Karabakh [PHOTO]
By Ayya Lmahamad
The Central Bank of Azerbaijan (CBA) will put into circulation a new AZN 20 banknote from February 2022.
The security features and design of the AZN 20 banknote, dedicated to the Karabakh region, have been updated with the latest technology and innovation.
The bank reported that the new security features of the new AZN 20 banknote are a color-changing hologram having a 3D effect, a “Spark Live” element, a watermark, visual identification for the visually impaired, vertical design, security thread, printing without ink, microtexts, etc.
It was earlier reported that the main design motifs on this banknote are – swords, helmets and shields depicting the strength, power and commitment of the Azerbaijani people, as well as the Kharibulbul sign, considered a pearl of Karabakh flora that symbolizes victory and the word "Karabakh".
Moreover, the bank updated the design of the 20-qapik coin and put it into circulation. The updated coin has added the state emblem and the year of issue. The technical parameters of the updated 20-qapik coin have remained unchanged in accordance with the existing coins of the same denomination.
In line with international practice, the Central Bank periodically updates the design and security systems of the banknotes in order to strengthen the fight against counterfeiting and to use the latest technology and innovation. In this context, the updated banknotes of denominations of AZN 1, AZN 5 and AZN 50 were put into circulation from early 2021.
The National Bank of Azerbaijan was established by the presidential decree dated February 11, 1992, and was renamed into the Central Bank of Azerbaijan on March 18, 2009. The main goal of the Central Bank is to maintain price stability within its authorities set by the law, to organize and ensure operations of centralized interbank and other unlicensed payment systems, as well as support the stability of the banking system.
Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad
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