Banknotes featuring the first redesign of the Island's currency in more than 30 years are to be released into circulation Monday.

The Bermuda Monetary Authority announced the move yesterday, saying it followed months of "planning and preparation" to ensure banks, retailers and other stakeholders were prepared for their introduction.

The banknotes will initially be available at banks throughout the Island, as well as at ATM machines.

Said BMA CEO Matthew Elderfield: "There has been a huge collaborative effort between the Authority, the banks and other stakeholders to ensure that the Island is prepared for the banknote

release.

"After working together towards a smooth introduction, everyone is looking forward to Monday's launch."

The new banknote series was first unveiled last year.

Designs feature typical Bermuda scenes, flora and fauna while heightened security aspects include a watermark of a hibiscus flower.

Mr. Elderfield said the BMA had conducted an extensive awareness campaign to ensure residents were prepared for the new look.

He said: "Response from the community to the new designs has been overwhelmingly positive. The new banknote project has been a significant undertaking by the Authority on behalf of the community.

"I would like to thank all of those involved, including members of banking and retail communities, and the New Banknote Working

Group, who have been instrumental in the success of this initiative."

Mr. Elderfield continued: " I would particularly like to commend the Currency Team at the Authority for producing a distinctive, modern and secure banknote series of which we can all be proud."