CBK issues rules on exchange of Sh1,000 notes

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Central Bank of Kenya has given guidelines on how bank notes will be exchanged.

The bank also announced that the new generation notes are already circulating in the country.

The CBK issued the following guidelines which it says will ensure the security of cash transactions.

  1. Anyone who does not have a bank account and seeks to exchange the currency notes above Ksh1 million will require endorsements from CBK.
  2. CBK will also provide endorsements for people seeking to exchange notes above Sh5 million.
  3. Those exchanging currency below Ksh5 million can exchange at their commercial banks, CBK branches and currency centres.
  4. This will also apply to persons exchanging currency notes for an amount between Ksh1 million to Ksh5 million as they will withdraw at their respective commercial banks.

The CBK also said they will begin Public Awareness Campaign to ensure all members of the public are familiar with the new bank notes and their features.

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