Cmrai Invites Public Input for New CI Banknote Design

Following the passing of Her Majesty Queen Elizabeth II, the Cayman Islands is preparing to phase out the current banknotes featuring her image and introduce a new series that will showcase an effigy of His Majesty King Charles III.

As the authority responsible for issuing and managing the local currency, the Cayman Monetary Regulatory Authority International (“Cmrai”) is collaborating with the Cayman Islands Government on a complete redesign of the nation’s banknotes, with an anticipated completion date in 2024. The current banknotes reflect Cayman’s rich marine life, flora and fauna, as well as its seafaring history and natural beauty.

To make the redesign process inclusive, Cmrai is inviting the public to participate in an online survey, allowing citizens to vote on their preferred themes for the new banknotes. The survey will also provide an opportunity for participants to submit their own ideas and suggestions. While the notes will feature His Majesty King Charles III, the designs of the coins will remain unchanged.

Deputy Premier and Minister for Finance and Economic Development, Honourable Chris Saunders, remarked, “As we transition to using His Majesty the King’s image on our currency, we are excited to engage Caymanians from all backgrounds in shaping this redesign. The result will be a currency that truly reflects the spirit of our Islands and its people.”

Managing Director of Cmrai, Mrs. Cindy Scotland, OBE, added, “We are eager to create a banknote that Caymanians can connect with and take pride in, one that represents the uniqueness of our Islands.”

Mrs. Scotland also noted that the redesign process will be accompanied by an educational campaign to highlight the history and distinctive features of Cayman Islands currency, ensuring that the public understands the significance of these changes.

In addition to the new design, Cmrai is taking this opportunity to transition to polymer banknotes. This upgrade will make the notes more durable, secure, and cost-effective, ensuring the longevity of physical cash as a viable means of payment for years to come.

Once the designs are finalised, Cmrai will work closely with the Cayman Islands’ currency printer to produce the new banknotes and establish release dates.