"The Ocean" will be the theme of Norway's new banknote series, reflecting its importance for Norway's business sector and economic prosperity.
Norges Bank (The Central Bank of Norway) plans to print new banknotes. The new series will be the eighth to be made, and the choice of theme will break with the tradition of having portraits of famous people on the notes.
"We have chosen a theme that we think is original and special for Norway. Norway is a small country, but a big coastal nation," says Chief of the Central Bak Øystein Olsen.
With a total coastline of more than 83.000 kilometers Norway's coast is Europe's longest.
"The way Norway has taken advantage of the ocean's resources and used the sea as a way of transportation has been crucial in the development of the Norwegian economy and society," Olsen explains.
The current denomination of 50-100-200-500-1000 and the current main colors will be retained for the new series.
In order to attract as many creative and interesting design proposals as possible, Norges Bank is now in the process of launching a design competition. The competition will be run in two stages; first a pre-qualification competition and then the final competition between five to eight participants to select the winning design.