On Monday the Governor of the Bank of Jamaica, Derrick Latibeaudiere; launched the countries highest bank not.
The bank announced last week that the new high security jamaican $5000 note will be put into circulation in September 2009.
Following moderate speculation about the importance of its introduction at this time, Governor Derrick Latibeaudiere said the note was necessary as there was a need to re-balance the denominational structure of the bank-notes in circulation.
"The Internationally accepted principal is that the highest value denomination should not account for more than 60% of the total value of the notes in circulation. Jamaica had exceeded this limit for some time and had therefore taken the decision to introduce the new note,
"At March 2009 Jamaica's highest value bank note, the one thousand, accounted for 76.65% of the total value of notes in circulation or 16.65% above the recommended international standard," said Mr. Latibeaudiere.
He explained that the likeness of late former Prime Minister Hugh Shearer was chosen for the note mainly because local coins and bank notes only bear images of national heroes and deceased prime ministers.
The note has several other high quality security features including the image of the Jamaican nightingale in the background, and a metallic thread running vertically.
The Jamaican coat of arms is visible in silver set against a backdrop of an aerial view of Highway 2000.
Frangipani blossoms complete the images on the $5,000 note.
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