06-06-2019 by redazione
The British High Commissioner for Kenya, Nic Hailey, welcomed the announcement by Kenyan Central Bank Governor Patrick Njoroge on the introduction of new generation banknotes that will support the country's continued fight against corruption, because they will force thousands of people to deposit within a few months many denominations of 1000 shillings never declared.
Welcoming this tough stance against corruption in the country, Hailey said: "The announcement regarding the future invalidation of the current 1,000 KES note is great news. Anyone who has hidden the proceeds of corruption in cash, to avoid traceability, will have to explain where its wealth comes from.
Regional Director of the Department for International Development (DfID) Julius Court also described the move as an "important initiative".
Initially, as announced in recent days and also published on malindikenya.net (READ HERE NOTICE) the banknotes will be in circulation simultaneously, but the old thousand shillings old generation banknotes must be exchanged by October 1, 2019 (unless later extended), after which they will cease to be legal tender.
Anyone wishing to exchange old banknotes for a value of less than KES 1 million can do so at their bank branch.
Kenyans without bank accounts can exchange at any branch of any bank, or even at the offices of the CBK.
They only need to present an official identification document.
Citizens who want to change amounts between KES 1 million and KES 5 million euros will have to go to their bank.
Those who do not have bank accounts and want to change amounts of this kind should contact the CBK which once verified the origin of the money and approved the operation and can go to a designated banking branch.
People who want to change amounts in excess of KES 5 million will have to contact the CBK directly, whether they have a bank account or not.
Translated with www.DeepL.com/Translator
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