Canada Launches Consultations to Select Woman for Bank Note

Canada will select an “iconic” woman to appear on a new bank note that will be distributed in 2018, the central bank and finance minister said.

“In our country’s nearly 150 year history, women, with the notable exception of the Queen, have largely been unrepresented on our bank notes,” Finance Minister Bill Morneau said in a statement from Ottawa Tuesday, referring to Queen Elizabeth II.

The Bank of Canada, which is responsible for producing the notes, will take nominations until April 15, Governor Stephen Poloz said in the statement. Nominees must be a Canadian woman by birth or naturalization, must have been deceased for at least 25 years and can’t be a fictional character, the central bank said.

“With this new note, we can honour the achievements of Canadian women and inspire future generations to learn more about the significant contributions women have made to our country,” Poloz said.

Canada and the U.K. have both faced pressure to make the people featured on bank notes more diverse. At the Bank of England, Governor Mark Carney chose 19th-century novelist Jane Austen to ensure banknotes depicted at least one historical female figure.

Before it's here, it's on the Bloomberg Terminal. LEARN MORE