By Evelyne Musambi
President Uhuru Kenyatta on Saturday unveiled the new bank notes during Madaraka Day celebrations.
All the new notes bear images of the iconic Kenyatta International Convention Centre (KICC) and a statue of the founding President Jomo Kenyatta’s monument at KICC.
The 50 shillings note bears images that symbolise green energy at the back while the Sh100 note bears agriculture related images.
The Sh200 notes bear images of social services, the Sh500 tourism images and the Sh1000 note, which is the highest denomination, bears governance images.
During the unveiling, Central Bank of Kenya (CBK) Governor Patrick Njoroge said the new notes will circulate alongside the old ones but put a deadline for the circulation of old Sh1,000 notes.
“We have assessed the grave concern that our large bank notes, particularly the older Sh1,000 series, are being used for illicit financial flaws in Kenya and also other countries in the region. To deal with those concerns, all the older Sh1,000 series shall be withdrawn by a Gazette Notice dated May 31, 2019, all persons have until October 1, 2019 to exchange those notes, after which the older Sh1,000 bank notes will cease to be legal tender,” Njoroge said.
The president, after unveiling the notes, was issued with samples of the bank notes, to demonstrate that its smaller size fits better in a wallet, just as Kenyans had wanted.
He then displayed the notes that had been sandwiched in glass blocks for all to see.
The new notes were gazette on May 31, 2019 and are now a legal tender in Kenya.
Source link : https://allafrica.com/stories/201906010102.html
Publish date : 2019-06-01 12:50:46