The Daily Times, Friday, April 4, 2008
Reserve Bank of Malawi
PRESS RELEASE
Handling and Storage of the Malawian Currency
1.Introduction
The Reserve Bank of Malawi (the RBM) has the sole statutory authority to issue banknotes and coins as legal tender in Malawi in accordance with section 17 of the Reserve Bank of Malawi Act.
The RBM would therefore like to sensitize the general public on the proper handling and storage of banknotes and coins which will assist its efforts to improve efficiency in currency management.
[…]
4. General Guidelines for Handling Banknotes and Coins
Banknotes
· Large amounts of cash should not be stored in homes or business premises but must be deposited in banks for safety.
· Do not scatter banknotes on the floor during weddings and other similar celebrations but place the banknotes in baskets/trays arranged by the cashiers.
· Do not step on banknotes.
· Do not crumple banknotes.
· Do not mutilate banknotes, as doing so is a criminal offence.
· Do not staple banknotes.
· Do not write on banknotes or make drawings on them.
· Do not use Malawian Kwadcha banknotes in advertisements without proper authorization from the RBM.
· Do not rub or wash banknotes
· Avoid storing or placing banknotes in moist places.
Coins
· Avoid putting coins in tins or burying them in the ground as they will get rusty.
· Do not deface or smelt the coins as doing so is a criminal offence
· The coating on the K5 and K10 coins is not gold; hence attempts to separate the inner and outer components of the coins in search of the perceived gold are not worthwhile.
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6. Conclusion
The Bank would like to inform the general public that the Malawi Kwadcha banknotes and coins are legal tender in Malawi. Accordingly, the public should undertake financial and business transactions using the Malawian Kwadcha banknotes and coins.
(Signature)
Victor Mbewe
GOVERNOR
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