RBM concerned with refusal of K20, K50 banknotes

Reserve Bank of Malawi RBM has expressed concern over the refusal by some members of the public to conduct transactions using 20 and 50 kwacha banknotes denominations

RBM management say the two mentioned banknotes remain legal tender in Malawi

The Central bank requests the public to note that RBM does not intend to remove these denominations from Malawi’s currency structure but planning to convert them into coins in future

Accordingly the bank advises the public that “everyone is free to engage in monetary transactions using 20 and 50 kwacha banknote denominations.”

The Reserve Bank has recommended reporting to police anyone refusing to accept those notes.