Reserve Bank of Malawi (RBM) has warned that whoever is found mishandling or destroying Malawian currency will pay a fine of K15 million or in default serve seven years in prison.
RBM Director of Currency, Muopeni Ngwalo, disclosed this at Gmalina Lodge, Liwonde in Machinga where the central bank engaged police officers, traditional chiefs, business people, wedding directors of ceremony, traditional doctors and religious leader on matters to do with protection of the local currency against destruction of any form.
The Currency Director said government spends a lot of resources to print the currency and at times to replace destroyed currency.
He therefore called on police and other law enforcers to be on the lookout for those that destroy Malawian currency during weddings, other festivities and in business places.
Ngwalo observed that banknotes are also mishandled and destroyed by those that sell fresh fish because banknotes mostly come into contact with water.
“We also noted that there are some business people that refuse to accept K20 bank notes. Refusing to accept the K20 bank notes is against the law,” said the Currency Director.
In her remarks, Officer ln Charge for Machinga Police Station, Senior Assistant Commissioner, Jane Mandala hailed the RBM for sensitizing the business people, local leaders, wedding directors of ceremony and traditional doctors in Machinga on currency safety and protection against mishandling and destruction.
She pledged that police in Machinga will continue working with the RBM to ensure that the local currency is always protected from all forms of destruction by traders and others citizens in places of festivities.
Senior Assistant Commissioner Mandala therefore called on those that attended the meeting to further sensitize people in their respective location on the need to take good care of the local currency.
“Police will also deal with all those that refuse to transact with K20 bank notes,” she said with a warning that the law will take its course in such scenarios.
