Do not sort out dirty money while serving customers – BoZ urges bank tellers

BANK of Zambia (BoZ) says it is not right for some commercial banks to continue sorting out dirty money while attending to customers depositing money at the counter.

 

 

BoZ regional director Fabian Hara said the central bank has received concerns from the public that some bank tellers are in the habit of sorting out soiled notes while attending to customers.
“There are complaints that people take long in the banks when waiting for the [bank] teller to sort out soiled notes. This should not be the case when people are depositing., This is a matter that should be done in the back office,” he said.

 

 

Mr Hara said this in an interview at the just-ended 51st Zambia International Trade Fair.
Currently, BoZ handles the wholesale side like printing and distribution while commercial banks are expected to handle retail activities like sorting out dirty money, which is then taken to the central bank for soiling (destroyed).

 

 

Meanwhile, the next consignment of Kwacha notes to be received this year will have Braille features to enable the blind identify the monies involved when transacting.

 

Mr Hara said the central bank carried out selected tenders and three companies were picked to print the new currency that will have features for the visionary impaired.

 

“We have already engaged colleagues from the associations of the blind and other vision-impaired organisations to help us with sensitisation and to enhance dialogue over the matter,” Mr Hara said.