Friday, July 17, 2009

Bank Negara Malaysia Issued New RM50 Banknote

Further to the announcement made on 21 December 2007 where the Bank Negara Malaysia has introduced the new 4th Series of RM50 in conjunction with the celebration of 50th Anniversary of Independence, BNM has reintroduced the new design of RM50 banknote by omitting the logo of the country's golden jubilee celebrations but has enhanced security features of the banknote. This RM50 banknote is the first denomination of the Fourth Series of Malaysian Banknote which will be replacing the existing series in stages.

This RM50 banknote is the first issuance of Fourth Series back in 21/12/2007. The newly issuance of RM50 in 15/7/2009 has removed the logo of the country's golden jubilee celebrations located at the upper right corner of the reverse note.

This series of RM50 banknote retains the predominant colour of green-blue. The main theme of the design is the National Mission where the first thrust is "to move the economy up the value chain" which reflects Malaysia's economic transformation to the higher value-added activities in the agriculture, manufacturing and services sectors of the economy.

The Front features the portrait of the first Seri Paduka Baginda Yang di-Pertuan Agong, Tuanku Abdul Rahman ibni Tuanku Muhammad, on the right and the national flower hibiscus is in the centre on the front of this new banknote. Design patterns from songket weaving, which are in the background and edges of the banknote, are featured to reflect the traditional Malaysian textile handicraft and embroidery.

The Back features Malaysia's first Prime Minister, Tunku Abdul Rahman Putra Al-Haj at the historic declaration of Malaya's independence in 1957. It also features the Oil Palm as one of the main contributing sectors in agriculture.

14 comments:

Anonymous said...

What a waste of tax-payers' money and resources for BNM to 'destroy' 40 million pieces of the new RM50 (prefix AB - AE) due to a major technical error of non-ATM compatibility. All the new issues are now of the prefix AF after the earlier release of 10 million pieces of AA since Dec 07.

Allan said...

So collectors will hunt for AB to AE for this new series, I am sure some will have slip through the "destruction process".
I saw some ZB of this new series being sold on ebay. The ZA and AA series value have not gone up much as I presume the market still have many going around.

Anonymous said...

Wonder what would happen to the 10 million of AA notes that circulated since December 2007? Since they are non-ATM compatibility, definitely it will cause confusion as generally people think that banknotes are not acceptable by ATM machine are fake notes. Will BNM recall back those earlier issuance notes?

Anonymous said...

Will BNM recall back those earlier issuance notes?
Good question but I personally think BNM would not bother to do so since there are not many of those 10 million AAs floating around in circulation. The banks will probably 'retrieve' them by opportunity basis when they are being banked in and 'destroy' them to streamline ATM compatibility. So collectors out there, better keep some of the new RM50 AAs before they disappear in thin air!!

monyek said...

It's not true that those AA series were non ATM compatible... just last weekend, when I withdrew money from ATM, I got mix of AAs and AFs... this is real and thru my own experience...

Jack Hoo said...

Opps...there is another interesting fact highlighted by Monyek. Has anyone experienced the same?

Anonymous said...

Not surprising that Monyek finally managed to withdraw some RM50 AAs from the ATM last weekend. Mind you, that's more than one and a half years later since they were issued. It took BNM that long to adjust all the ATMs and other cash machines that dispense or accept cash before they are compatible with the new RM50. Just imagine how troublesome it would be for the public if the full 50,000,000 were released and all transactions have to be through the banks during this period.

Jack Hoo said...

My latest withdrawal from ATM machine shown some of AA notes which was also experienced by Monyek. Question raise, if AA notes are now ATM-compatible, I suppose AB to AE will do the same. Does it mean these prefix notes will soon be available in market or the earlier rumors that they were destroyed still stay?

Anonymous said...

One in a million chance will we see any RM50 prefix AB-AE in the market. First of all, we are not even sure whether they are already printed in full 50 million, together with AA. If I am not wrong, even the prefix AA is not issued in full 10 million because I don't remember seeing any beginning with 7s and 8s. It didn't take BNM very long to realise the "ATM mistake" so it's faster and easier to start printing the newer series without the logo than to adjust the ATMs. Once the newer series were announced to the public on 15th July, there's no turning back to release AB-AE because that would compound the problem and confuse the public further. Of course, unless some "leak out" into the market as suggested by Allan, like the RM1 CR, but again this is highly unlikely, in my humble opinion.

Anonymous said...

Hi Jack, i just saw some one at ebay sell the Prefix AC RM50 Year 2007. It that bank negara start issue out all those Prefix AB, AC, AD and AE notes??? Is Prefix AC notes can keep??? what do you think? Thanks

Jack Hoo said...

Not surprise if the BNM released the prefix AB to AE since the problem encountered before in prefix AA has been resolved. Let's see whether BNM has fully relased the above mentioned preifix. If yes, I would rather keep prefix AA notes as they give higher value. If prefix AB to AE notes have not realeased fully, then the AC note that you mentioned can be "somebody". Keep observing and make your choice.

Anonymous said...

Thanks alot for your comment.

Anonymous said...

Got AE prefix note recently thro. ATM. Already have 20+ of UNC AA prefix, and don't mind to keep the AE.

Anonymous said...

Can new polymer rm1/5 notes color smear under any circumstances? Or this is the error during printing?