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RBM writes churches on currency handling: Issue pertinent- Blantyre Synod

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The Reserve Bank of Malawi (RBM) has written various churches in Malawi on the handling of Malawi Kwacha currency.


In one of the letters, addressed to Reverend Father Henry Saindi Secretary General of the Episcopal Conference of Malawi, which MBC Online has seen, RBM Governor Dalitso Kabambe said the Central Bank has observed some Malawi Kwacha handling malpractices such as excessive folding of banknotes during church services.

“We strongly believe that the church is one place where the Bank can be assisted in advancing its noble cause.

“The church also stand to benefit from the exercise as we understand church leaders spend hours on end unfolding and straitening banknotes after collection,” said Kabambe in the letter.

In the letter, Kabambe further appealed to the church community not to fold or wrinkle banknotes.

“Banknotes should be placed in their unfolded form in wide money collection baskets during church collection,” added Kabambe.

And while confirming receiving the similar letter, Blantyre CCAP Synod General Secretary Reverend Alex Maulana, described the issues RBM have raised as pertinent.

“We are currently writing all churches under Blantyre Synod on the matter. We feel the Reserve Bank has raised pertinent issues which the church must act upon with the urgency.

“Sometimes when you look at the cleanliness of the United States Dollar, you would think you are the first person to handle it,” said Reverend Maulana.

Malawians’ poor handling of bank notes will cost the Reserve Bank of Malawi a whooping MK13.2 billion in replacing this year alone.

In July 2017, Head of Banking and Currency Management, Mercy Kumbatila, disclosed that public funds in excess of MK10 billion were spent to replace lost and damaged money in the last financial year alone.

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