Vision 2020 Banknotes Revisited: A Semiotic Analysis of the Third Series of Malaysian Banknotes

In 1996, Bank Negara Malaysia (BNM) introduced the third series of banknote which is intended to distribute awareness regarding a strategic economic transformation plan called Wawasan 2020 or Vision 2020. This particular banknote mainly contains several illustrations featuring tourist destinations, famous landmarks, telecommunication apparatus, modern transportation vehicles, oil and gas activities, and industrial plants. Hence, it is argued here that these illustrations do not only add aesthetic value to the overall banknote design but can be regarded as visual codes that contain hidden meaning. In light of this matter, this study sets out to examine the third series of banknote with the aim to assess its visual codes in terms of how effective they are in communicating the meaning of Vision 2020. In order to conduct this study, a semiotic analysis method introduced by Charles S. Pierce was employed. This method involves analyzing the visual codes (text, graphic, and illustration/image) featured in the third series of banknotes. Based on the findings, the researchers conclude that all of the visual codes portrayed in the third series of banknotes do not only promote Vision 2020 but also symbolize the former prime minister, Tun Dr. Mahathir Mohamad, who is the architect behind the strategic plan.