20 Kuruş Second 'Kaime' issue

The "kaime" (from Arabic *qā'ima*, a standing document or list) had a troubled history in Ottoman finance going back to 1840, when the first issues were used to fund Mahmud II's military reforms. By the time this second kaime series was issued in 1876–77, the empire was financially exhausted — state bankruptcy had been formally declared in October 1875, and the simultaneous crises of Balkan uprisings and the approaching war with Russia left the treasury with few options beyond paper.

Forced circulation was necessary; the public's distrust of kaime notes was deeply rooted and historically justified, as earlier issues had depreciated catastrophically. This series fared no better.