The Reserve Bank of Malawi (RBM) has asked religious leaders in the country sensitize their follows to desist from mishandling the banknotes. This comes at a time the Bank is concerned that it uses between MK10 billion and K15 billion every year to replace damaged banknotes.

In the letter, RBM Governor, Dalitso Kabambe, cites the practice of stepping over banknotes, placing banknotes under wet conditions in fresh fish and vegetable markets, using soiled hands, keeping banknotes in socks and smelting coins for repairing bicycles, as some of the regrettable practices. “Such malpractices damage our currency and are costly to the bank,” Kabambe said. Continue reading Malawi central bank taking help of church to clean banknote usage practices in Malawi →