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Published: Thursday January 16, 2014 MYT 12:00:00 AM
Updated: Thursday January 16, 2014 MYT 10:46:02 AM

Bank Negara: Use 'near new' notes for CNY ang pows

PETALING JAYA: Use “near new” RM1 and RM5 banknotes for Chinese New Year ang pow this year as only high quality ones are recycled back into circulation, urged Bank Negara.

It encouraged the public to continue this practice, noting that it had managed to issue 35% less new banknotes for Hari Raya Aidilfitri last year.

Bank Negara said this showed that its Go Green initiative, launched last July, had been well-received by the public.

It said it normally issued around 750 million new RM1 and RM5 banknotes every year for both Hari Raya Aidilfitri and Chinese New Year.

“About 70% or 500 million pieces of the new banknotes would be deposited back into banks without being used for any payment transactions, which is an unnecessary use of resources,” it said in a statement.

It assured the public there would be sufficient banknotes of all denominations, adding that both the Association of Banks Malaysia and Association of Islamic Banking Institutions Malaysia would facilitate their distribution through bank branches and ATMs.

Tags / Keywords: Family Community, banknotes, BNM, recycle, go green

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