By Burnett Munthali
The Reserve Bank of Malawi has issued a stern warning that refusing to accept or use the K20 banknote is a violation of the law. The bank’s spokesperson, Dr. Mark Lungu, clarified that the K20 note remains legal tender and that the bank has not withdrawn it from circulation.
Dr. Lungu made this statement in response to reports that some traders and consumers in the country have been rejecting the K20 note in transactions. He emphasized that such actions are unacceptable and go against the bank’s regulations.
“The K20 note is still in circulation, and people must continue to use it just as they do with other denominations,” said Dr. Lungu.
He also criticized certain traders who, instead of giving customers the correct change when K20 is involved, resort to giving them items such as sweets. “This practice is improper,” Dr. Lungu stated, urging traders to adhere to proper business ethics by providing the correct monetary change.
The Reserve Bank has called on all Malawians to respect the currency and to ensure that the K20 note is accepted in all transactions to maintain confidence in the country’s financial system.
