RBM urges careful handling of currency

The Reserve Bank of Malawi (RBM) has, while commending the public for making efforts to handle currency carefully to avoid shortening its life span, appealed to all citizens not to relent in embracing the culture of taking good care of their currency. 

Director of Media Relations at the central bank, Ralph Tseka, made the appeal on Wednesday night at Grand Palace Hotel in Mzuzu where the bank held a media networking event with journalists in the northern region belonging to Nyika Media Club (NMC).

Tseka addresses the journalists

He reported that the culture of throwing banknotes and stepping on them on various events including engagements and weddings has been abandoned by Malawians, an indication that the messages the bank has been sending out are being adhered to.

“We have been going around sensitising people on handling of the currency. We have seen that because of the stringent measures that we employed especially on those involved in engagements, bridal showers and weddings, people are now more careful. They are actually keeping the currency in boxes because our enforcement goes as far as having people arrested if they are mishandling the currency.

“This shows that our message is getting across and the replacement of currency in terms of costs has gone down. But the awareness campaigns will continue. We will not relent. We will continue hammering the message to the general public so that people continue to understand the importance of handling the currency with care,” explained Tseka

Speaking to Nyasa Times after the event, President for Nyika Media Club (NMC), Joseph Mwale, said the event was important for journalists in the north to understand and appreciate a number of issues regarding the Reserve Bank.

“We noticed that the north was somehow neglected in engagements with the central bank. We thought it was important for reporters in the northern region to understand the roles of the Reserve Bank.

“Sometimes monetary policy meetings take place in the north and it is reporters in the north that should report on that. It was therefore very important to have this event that was coupled by a cocktail and we are grateful to them that they accepted to come here and engage with us,” remarked Mwale.

On the newly introduced K5000 bank note, Tseka urged Malawians to always check for the security features when using it. He disclosed that the fake notes that were recently discovered in Nkhotakota were smaller in size did not have all the security features

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