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BOZ Has Circulated K3.2bn Rebased Currency as of End Of March
The Bank of Zambia has circulated about three point two billion kwacha of the rebased currency as of the end of March this year.
Out of the three point two billion that has been circulated, Thirteen point seven million kwacha are coins.
BOZ head of public relations Kanguya Mayondi has disclosed to Qfm that such a sum of coins that have been distributed denotes that there ought to be adequate change available on the market.
Mr. Mayondi has also refuted assertions that the distributed coins in the country may be forced out of circulation due the alleged stigmatization they have been receiving in the country.
Mr. Mayondi has further encouraged members of the public to ensure that they specify their needs with their bankers, who are compelled to ensure that there is customer satisfaction at all times.
He said the central Bank takes this matter seriously and will always wish to ensure that there is no mismatch of any sort on the market.
He added that Customer service and consumer protection rank very highly on the BOZ priority lists and that is why there are specific, fully-fledged Departments such as the Bank Supervision Department to ensure that these tenets are exercised and that members of the public are protected.
He reiterated that should there be any complaints against any commercial bank or any player in the financial sector, members of the public should be encouraged to communicate to the Bank of Zambia which will take appropriate measures to remedy any anomaly.
Posted by
wiza
April 5, 2013 at 12:01 pm
ZAMBIANS ARE SO BACKWARDS AND HERE I WAS THINKING WE ARE ADVANCED. HOW CAN YOU HAVE STIGMA AGAINST COINS. IT MAKES MY HEART BLEED WHEN I SEE SUCH THINGS.
Coin Age
April 6, 2013 at 9:58 am
When our ancestors fought to move from oinage to papaer gae, u are here displaying your high level of stupidity by advocating for coins ?
Who are you ? The return of Broken Hill man ?
wiza
April 9, 2013 at 3:11 pm
seems you have never used coins in your life my brother. Coins will encourage you and your kids to keep in piggy banks hence creating a sense of saving. You are so backwards you dnt even know the value of coin money. I think you were too you when zambia last used coins. I was fortunate enough to use them so i know their value. Where i am, I am using them so in zambia it should not be a problem. No need for insults.
Muza.
April 5, 2013 at 4:46 pm
Talking of customer satisfaction in the banks! u shud visit Standard Bank Manda Hill Branch to see what happens especially after 18:00 hrs. That talking gadget they have put at the entrance into the bank does not seem to be adding any value, if anything the lines are longer and the waitng time has also increased.It was even better before that thing was brought in. Supervisors pse do something about this.
Muza.
printer of money legally tutor
April 6, 2013 at 7:51 am
wen u rebase(debase) a currency,u re simply removng ze old currency as it hz bcome uzless.pipo kno zat ze nu z uselss 2!