In terms of section 52 A (1) (a) and ( b) of the Monetary Law Act (Amendment) No.6 of 1998, with the approval of the Minister of Finance, the Central Bank issues commemorative coins and notes.

The Central Bank of Sri Lanka issued the first commemorative note to mark the 50th Anniversary of Independence of Sri Lanka in 1998 and this is the second commemorative note that is being issued.

The theme on the obverse of the note is one country and one nation in harmony, progressing towards prosperity under the leadership of President, Mahinda Rajapaksa. The obverse depicts the image of President, Mahinda Rajapaksa, which is to the right of the note. A map of Sri Lanka with the rising sun in the background and a "Punkalasa" with ears of paddy at center left depicts territorial integrity and prosperity respectively, that are results of national harmony and peace.

The valiant contribution made by the nation’s victorious sons and daughters of the security forces and the police is the theme on the reverse of the note. The design at the center depicts the hoisting of the national flag by members of the security forces. Images of the Mavil Aru annicut and Thoppigala rock (Baron’s Cap) that were turning points of humanitarian operations of the security forces appear in the background.

The size of the note is 157 mm x 78.5 mm and the predominant colour is blue. The notes are identified by a serial prefix of Q and the numbers of the notes are starting from Q/1 000001 onwards and appear on the obverse in Arabic numerals, horizontally on the left and vertically on the right of the note.

The note contains several current security features. The watermark depicting the heraldic lion of Sri Lanka, with the sword highlighted in a panel clear of printing and Cornerstones as hitherto used in current Sri Lanka Rs 1000 note, 1.2 mm wide windowed clear text security thread, see-through feature in exact registration and invisible fluorescent printing have been incorporated in the note.