Don't Take Sweets From Supermarkets As Change - CBK Warns Here is the reason

The Central Bank of Kenya (CBK) has warned supermarkets against issuing alternative goods to shoppers instead of currency without their consent.

CBK, though a press statement on October 2, said no client should be forced to take airtime, matchboxes and sweets in lie of coins.

"Commercial banks, supermarkets and other entities should desist from the practice of issuing alternative products instead of currency coins on the basis of bulkiness or perceived shortage," the statement reads.

CBK stated that there is no shortage of coins in the country as it had issued commercial banks with sufficient quantities, all that the retailers need to do is go and pick the coins.

The law requires that all monetary obligations or transactions entered into or made in Kenya be settled in Kenya currency unless otherwise provided for by law or agreed upon between the parties, the bank explained.

Any member of the public experiencing difficulty using coins has been advised to report to any Central Bank of Kenya branch or currency centre for assistance.

Central Bank of Kenya is established under Article 231 of the Constitution, 2010 and has the mandate of formulating monetary policy, promoting price stability, issuing currency.

The bank has its head office in Nairobi, with branches in Mombasa, Kisumu and Eldoret; currency centres are in Nyeri, Nakuru and Meru.

Gen3rationY@2014