CBK Issues Stern Warning on Use of Banknotes for Decorative Bouquets
NAIROBI, Kenya, Feb 2 – The Central Bank of Kenya (CBK) has warned on a growing trend in the use of Kenya Shilling banknotes for decorative and celebratory purposes, including the preparation of cash flower bouquets, ornamental displays and similar arrangements.
In many instances banknotes are folded, rolled, glued, taped, stapled, pinned or otherwise affixed using adhesives and fastening materials. In a statement issued by CBK says that such practices compromise the integrity of Kenya Shilling banknotes and render them unsuitable for circulation.
“The use of adhesives, pins, staples and similar materials damages banknotes and interferes with the efficient operation of cash-handling and processing equipment, including automated teller machines (ATMs), cash counting machines, and sorting equipment”, reads the statement.
CBK notes that the results in increased rejection of banknotes during processing and leads to the premature withdrawal and replacement of currency, at an avoidable cost to the public and the Bank.
“While CBK does not object to the use of cash as a gift, such use should not involve any action that alters, damages, or defaces banknote, Currency should remain in a condition that allows it to circulate freely and perform its intended functions as a medium of exchange, unit of account and store of value”, the statement reads further.
CBK wishes to remind the public that Section 367 of the Penal Code (Cap. 63, Laws of Kenya) prohibits the defacement, mutilation or impairment of currency notes.
“Any person who willfully defaces, mutilates, or in any way impairs any currency note issued by lawful authority commits an offence under the Penal Code”.
CBK has urged the public to refrain from practices that compromise the integrity of Kenya Shilling banknotes and to adopt alternative, non-damaging methods when presenting monetary gifts.
“The Central Bank of Kenya remains committed to safeguarding the integrity of the national currency in circulation and will continue to undertake public sensitization and stakeholder engagement to protect the quality, usability, and public confidence in Kenya Shilling banknotes”.
