Bank of Zambia introduces new bank notes

Bank of Zambia (BOZ), Assistant Manager Talent and Resourcing Nelly Phiri says the bank has introduced new bank notes with improved features that will disadvantage counterfeit money launderers.

Ms Phiri said this when she paid a courtesy call on Lundazi District Commissioner’s (DC) office.

She said that BOZ is in the district to sensitize Banks, Business entities and the general public on the revised notes to avoid unscrupulous traders from swindling people with counterfeit notes.

And Lundazi DC, Janet Palukani said she is weary of visiting institutions that concentrate their programs within Lundazi town instead of extending to the rural parts of the district to benefit the masses.

Mrs Palukani said there is need for institutions like BOZ to roll out sensitization programs to other areas such as Lumezi, Chasefu and Mwase sub- centre, where there are massive potential business ventures and money exchange is done promptly.

And BOZ Safety and Armament Officer Luka Chiwowa said the hologram mark on the K100 has been removed and replaced with enhanced security thread appearing on all the new bank notes.

Mr Chiwowa said the bank has added a colour shifting feature from K10 note to a K100 which can be seen when you tilt it.

He added that the K2 and K5 new notes are already in circulation while the K10, K20 and K50 notes will start circulating by November 10, this year.

Meanwhile, Mr Chiwowa has emphasized that the old bank notes are still legal tender and will be used side by side with the new introduced bank notes until they phase out.

Source: Lusaka Times