RBM unveils new K2 000 banknote to Mutharika

President Peter Mutharika has said the best welcome Malawians can give the new K2 000 banknotes that go into circulation tomorrow is to look after them so that they remain crisp for many years.

Receiving the first K2 000 banknote from the Reserve Bank of Malawi (RBM) at Kamuzu Palace in Lilongwe on Friday, ahead of the general currency circulation tomorrow, Mutharika stressed that every citizen needs to ensure that the lifespan of the new notes, and the old ones, is lengthened.

“Printing of new notes is very expensive and the more notes that the bank prints, the more costly it will be to the general economy,” he said.

Mutharika said ways of taking care of banknotes include not tearing or marking them and keeping them away from moisture or fire.

He singled out wedding celebrations as occasions where many people, in their apparent joy, greatly devalue or disrespect banknotes.

Presenting the first K2 000 note to the President, RBM Governor Charles Chuka explained that the event is in line with the bank’s tradition of according the incumbent Head of State the honour of seeing a new banknote before anyone else.

He said prior to introducing the new note, the bank has carried out an effective and on-going nationwide sensitisation campaign that includes highlighting security features on the note and the fact that people will enjoy the convenience of no longer needing to carry large wads of notes for transactions.

He refused to disclose how much it has cost the bank to have the new note printed, save for saying: “It costs a lot of money.” n