Libya's second banknote series followed quickly after independence-era reforms restructured the National Bank of Libya into the Bank of Libya in 1956, with the 1963 dated notes representing a consolidation of the young institution's currency framework. The quarter-pound denomination — unusual by most central banking conventions — was retained from the first issue, reflecting the practical demands of a population still accustomed to fractional transactions in a largely cash-based economy.
Bradbury Wilkinson's New Malden facility produced much of Anglophone Africa's and the Middle East's paper currency during this period, and the engraving quality on this series is characteristically precise. The watermark remains the primary security feature — modest by later standards, but consistent with regional practice at the time.
Libya's second banknote series followed quickly after independence-era reforms restructured the National Bank of Libya into the Bank of Libya in 1956, with the 1963 dated notes representing a consolidation of the young institution's currency framework. The quarter-pound denomination — unusual by most central banking conventions — was retained from the first issue, reflecting the practical demands of a population still accustomed to fractional transactions in a largely cash-based economy.
Bradbury Wilkinson's New Malden facility produced much of Anglophone Africa's and the Middle East's paper currency during this period, and the engraving quality on this series is characteristically precise. The watermark remains the primary security feature — modest by later standards, but consistent with regional practice at the time.