Rwanda has banned the folding, glueing, taping, pinning, clipping, and affixing of its Franc banknotes using adhesives and fastening materials as part of gifts for social events and ceremonies.
In a statement, the National Bank of Rwanda (NBR) said such practices compromise the integrity of the banknotes, rendering them unsuitable for use in cash-handling and processing equipment, including cash counting machines and automated teller machines (ATMs), which are critical components of the national cash distribution system.
“This damage results in the premature withdrawal and replacement of banknotes, leading to avoidable costs,” the statement signed by Nick Barigye, the Deputy Governor and Acting Governor, says.
NBR is the sole authority mandated to manage the Rwandan currency.
In the statement, NBR explained that banknotes and coins are produced using durable materials and enhanced security features to ensure longevity, maintain public trust in the national currency, and support economic stability.
However, the continued use of banknotes and coins in floral arrangements, bouquets, and similar decorative creations by florists, traders, event decorators, designers, gifting stylists, and their clients, where they are folded, glued, taped, pinned, clipped, or otherwise affixed using adhesives and fastening materials as part of gifts for social events and ceremonies, leads to their getting damaged.
“NBR reminds the public that anyone who willfully defaces, mutilates, or otherwise impairs the Rwandan currency note commits an offence punishable by Law. NBR remains committed to safeguarding the integrity of the national currency in circulation and will continue to undertake public sensitisation and stakeholder engagement to protect the quality, usability, and public confidence in Rwandan Franc banknotes,” the statement adds.
On Monday, the Central Bank of Kenya (CBK) issued a similar ban, saying the actions constitute misuse of currency banknotes.