Saturday, April 20, 2024

New bank notes to curtail forging and improve security of kwacha – BOZ

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Bank of Zambia
Bank of Zambia

Bank of Zambia Payment System Oversight Manager Muuka Madubeko says the introduction of new bank notes with upgraded features is aimed at ensuring forging of the currency is curtailed.

Mr. Madubeko explained that different features have been introduced on each of the bank notes ranging from K2 to K100 so that they are distinct from each other to improve security.

ZANIS reports that Mr. Madubeko was speaking yesterday during a sensitization meeting on the new bank notes held at Mwamfuli Market in Samfya district in Luapula Province.

Mr. Madubeko however emphasized that the old bank notes were still valid and will be used together with the new introduced notes until they are phased out.

And Samfya District Commissioner Nason Bwalya has expressed happiness over the introduction of new bank note with improved features by the Bank of Zambia.

Mr. Bwalya said sensitizing business entities and the general public on the revised notes in Samfya district is a good move as the district is an entry point for money launders.

He has since thanked Bank of Zambia for the gesture and urged them to extend the sensitization program to other parts of the district.

7 COMMENTS

  1. With only US1.6billion in reserves, reverse economics from these kapoyas is to print more money. Yavuta dollar from IMF.kkkk

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