Currency Production - Where the Cash Cycle Begins
Thursday, 8 February 2018
09:00 - 13:00
09:00 - 13:00
Free to attend for any Middle East & Africa Cash Cycle Seminar (ICCOS) delegate.
In response to popular demand, we are continuing to offer the Symposium on “Currency Production – Where the Cash Cycle Begins.” Currency Production encompasses security and durability consideration in design, level 1 through 3 security features, printing and issuance. Issuing Authorities must also factor in the cost vs. performance balance, while bearing in mind the transactional and store-value denominations as well as the risks posed by counterfeiting. This Symposium is free for all registered seminar delegates and interested delegates must indicate their preference to attend during their Seminar registration process.
There will be two sessions that will focus on currency design, printing, and issuance. All of these production factors will be discussed in terms of how they impact the cash cycle. The symposium will have presentation topics covering substrates and durability, new security features, latest printing technologies, and experiences in new series and re-design.
Symposium Presentation Synopses and Presenter Biographies
Listed in alphabetical order by presenter name.
Operational Readiness for Printing Banknotes in the Desert Gavin Brogan | Chief Technical Officer, Emirates Investment Authority | Oumolat Security Printing
This presentation will provide an insight into the recent successful project developed by the Emirates Investment Authority for a new secure banknote printing facility (Oumolat Security Printing) in Abu Dhabi, United Arab Emirates. The evolution of the project will be traced, from the concept idea to building a secure facility and going live in a very short period of time. The presentation will discuss the aims, objectives and challenges of developing a commercial facility within a new industrial area. The facility is the first of its kind in the Gulf Region, with a primary objective to service the Central Bank of the UAE. Shortly, its operations will enter into the global market.
Originally from an Engineering background, Mr. Gavin Brogan has worked in the banknote industry for 28 years. He is currently Chief Technical Officer at the Emirates Investment Authority (EIA). With an MBA from Durham University in the UK, his career progressed from UK banknote printer De La Rue, where he developed a factory in Kenya, to General Manager positions at the Bank of England and Gateshead, the largest commercial banknote factory in the world where he managed change and growth from a one-line factory to multiple 24/7 lines and the inclusion of tax stamps, security print, and UK passports. Throughout his career, Gavin has been involved in managing change and developing high security print factories. In June 2014, Gavin joined the EIA as CTO and has been involved in the design and development of the new facility in UAE. This state-of-the-art factory is the first of its kind in the Middle East and it was made operational in a very short timeline, incorporating the latest technology for secure banknote production.
Currency and Technology, Evolving the Oldest Payment Instrument: A US Perspective
Shaun Ferrari | Managing Director, Americas and Caribbean | Currency Research
Currency is evolving and technology is advancing. We often think of technological advancement as a threat to cash, when in fact it is an advantage. Paper currency is not an antiquated payment instrument, it is a platform that can adapt to and incorporate new technologies throughout its life cycle. From single note inspection at the printer to data analytics on fitness characteristics in circulation, technology exists to improve currency, keeping it a most relevant and secure payment instrument.
Before joining Currency Research, Shaun spent 16 years at the Board of Governors of the Federal Reserve System. Shaun began his career in currency in 2000 in the Division of Monetary Affairs where he forecasted daily changes in currency in circulation. In 2003, he transitioned to the Division of Reserve Bank Operations and Payment Systems where he oversaw all operational and policy aspects of U.S. banknote issuance and processing.
Shaun was appointed Assistant Director in 2013 and was responsible for the global issuance of U.S. currency and operations of Reserve Bank cash processing centers. Shaun is an expert on the usage and circulation of U.S. currency and represented the Federal Reserve on numerous domestic and international policy making groups. Shaun also chaired the Committee on Custody Controls and served on the Interagency Currency Design Committee where he gained extensive knowledge of security features, design elements, and counterfeit risks.
Shaun graduated from Connecticut College with bachelor degrees in Government and Economics and later earned a masters degree from Johns Hopkins University in Applied Economics. He currently resides just outside Washington, D.C., in Springfield, Virginia.
Thinking About Using Data to Optimise Your Cash Operations? This is Already Happening Around the World - Discover How Sid Keyte | Head of Sales MEA | Cash Processing Solutions (CPS)Everyone is talking about data. Data is everywhere, but harnessing this data and turning it into something useful is key. For central banks, this means being able to accurately forecast future demand for cash, maximise the performance of banknotes in circulation, optimise future banknote design and specification and set the right clean note policy. This also means enabling central banks to independently check that their new banknotes, before being issued into circulation, are produced to the correct specification and quality levels. Discover how central banks across the world are already achieving this and how you too can optimise your cash cycle and reduce your cost of cash.
Sid was appointed Head of Sales MEA for Cash Processing Solutions (CPS) in 2016. Prior to this he held the position of Head of DLR®9000. Sid joined De La Rue (DLR) in 2015 and focused on building customer relationships globally and selling single note inspection solutions into state and commercial print works. Before joining DLR, Sid spent 5 years with Systems Engineering & Assessment selling high integrity, innovative strategic communication and sensor solutions to global governments. He also spent 17 years as an Officer in the British Army.
End of Banknote Life Benedicth Maduagwu | Assistant Director, Currency Operations | Central Bank of Nigeria | Central Bank of Nigeria
The Currency Management Life Cycle encompasses activities such as the research, design, production, storage, distribution, processing as well as disposal of unfit notes. The end of banknote life involves the removal of unfit notes from circulation by shredding or briquetting the unfit notes and the subsequent disposal of the waste in an environmentally friendly manner. The Central Bank of Nigeria (CBN) has eight banknotes in circulation. The four lower denominations are on polymer substrates, while the four higher denominations are on paper substrates. The CBN maintains a stock of briquetting and disintegrating systems in 23 of the Bank’s locations. Initially, the briquetted banknotes were disposed through open air burning, which posed a significant environmental challenge. The Bank is currently vigorously pursuing the recycling option of the banknote waste through third-party service providers. This option is adjudged environmentally sustainable.
Mr. Benedicth I.C. Maduagwu is an economist and Assistant Director at the Central Bank of Nigeria. He joined the Bank in 1990 and has headed several offices in this time, including the Treasury, Currency, and Banking offices among others. He has also served on various committees with the responsibility for the banknote modernization project. The committees include Currency Restructuring, Nigerian Cash Management Model, Automation and Modernization, and the Counterfeit Deterrence Committee. Currently, he is working in the Policy Office of the Currency Operations Department. His duties include reviewing/updating currency policy and related issues, conducting operational research on currency management, and introducing improvement initiatives in currency management. Mr. Benedicth and his team are currently working on recycling banknote waste in Nigeria.
Operation of the National Currency, Central Bank of Iraq Abdulkareem Shanoon | Director General | Central Bank of Iraq
The Central Bank of Iraq’s (CBI) Issue and Vaults Department is responsible for issuing Iraqi currency, managing the country’s currency inventory, providing currency at a suitable rate, determining denominations and their specifications, undertaking all necessary procedures to print banknotes and mint coins, providing security for currency, and withdrawing damaged currency. In this presentation, CBI will provide an overview of these key aims and tasks of the Issue and Vaults Department and will focus specifically on the Department’s mechanisms for printing, shipping, counting, and sorting banknotes.
Eng. Abdul Kareem H. Shanoon is currently Director General of Issue & Vaults at the Central Bank of Iraq (CBI). Mr. Shanoon joined CBI in 2002 to manage and maintain the performance of the Bank’s automated banknote processing machines (DLR 7000) in the CBI Cash Center. He has served in multiple capacities at CBI, with responsibilities including the management, counting, and sorting of banknotes, vault management, counterfeit detection, and service in the Fund Department. In 2016 he was appointed Assistant Director General of Issue & Vaults and in 2018 was appointed Director General. Prior to joining CBI, Mr. Shanoon served for 12 years at the Al Nahreen Printing House, which prints the National Currency as well as all Secure Documents. He holds a degree in Mechanical Engineering from Baghdad University (1990).
Industry 4.0 Meets Cash Cycle: From Banknote Architecture and Design, Through Production, Processing to Destruction Marc-Julian Siewert | Vice President Sales & Marketing MEA | G+D Currency TechnologyAutomation and digitalization have become a reality in all areas of our daily life. Today’s banknotes are efficient high-tech products, remaining the most-utilized means of payment. The authenticity of banknotes is verified throughout the whole cash cycle, in ATM systems, self-banking terminals and within teller automation and smart cash factories, which are forming an ever more important part of Cash Management. Digitalization enables you to reach the next stage, a fully integrated, interlinked cash cycle – cash on demand. Man-machine collaboration and data analytics foster increased business intelligence and help catalyze financial inclusion. Which requirements are to be fulfilled by banknote architecture and design – how will a fully integrated, efficient cash cycle look in the future? The presenter will explore these questions, using exciting examples and illustrations, and will give an insight into electrifying projects within the region, where the most modern cash infrastructure is being developed based on a holistic approach from the first designs all the way to banknote destruction.
Marc-Julian Siewert is responsible for the Sales and Marketing operations of G+D Currency Technology and for Currency Management Solutions within the Middle East and Africa. Siewert joined G+D in 2012 as Regional Sales Director. From 2014 to 2016 he was responsible for various Key Accounts and several strategic projects. Since October 2016, Siewert runs the Sales and Marketing Operations of G+D Currency Technology in the Middle East and Africa. Before joining G+D, he worked as a Business and Technology Consultant in Zurich, Switzerland, gaining critical experience in optimizing operations for various reputable companies in Europe and Southern Africa. Siewert completed his studies in Business Administration and Management in London, New York and Madrid.