Malawi: The Reserve Bank of Malawi-RBM-has denied social media reports that it intends to introduce a K10,000 banknote.
Following a recent 25 percent devaluation of Kwacha, economists have advised the Reserve Bank of Malawi (RBM) to maintain small denominations such as K10 and K20 in the economy to facilitate business transactions.
Hours after the Reserve Bank of Malawi has let the K5, 000 note into circulation, some Malawians are afraid of high inflation and difficulties in business transactions.
A week before K5000 bank note gets in circulation, the central bank, Reserve Bank of Malawi (RBM) says it has put water-tight measures and enhanced security features to ensuring that nobody produces counterfeit notes.
The Reserve Bank of Malawi (RBM) says is in constant discussion with the Malawi Police Service and the Judiciary to establish permanent measures to pin down perpetrators of currency counterfeiting in the country.
The Commercial Division of the High Court in Lilongwe has granted stay of the matter in case which David Chidyaonga is claiming the ownership of Reserve Bank of Malawi (RBM) - Mzuzu building.
The Blantyre Senior Resident Magistrate’s Court has sentenced a Reserve Bank of Malawi (RBM) cleaner to serve a nine-month jail term for stealing computers and exchange control stamps from the Central bank’s offices, Blantyre branch.
The Reserve Bank of Malawi (RBM) says only 3% Malawians access credit from formal financial institutions.