CBK Announces Four Significant Changes to Banknotes

The Central Bank of Kenya (CBK) has unveiled a series of important alterations to the country’s currency notes, aiming to align them with constitutional standards.

These changes will impact all denominations, including the 50, 100, 200, 500, and 1,000 Kenyan shilling notes.

This comes at a time when the Supreme Court ruled that that all financial institutions in Kenya to must obtain explicit approval from the Finance Cabinet Secretary before implementing any increases in loan interest rates.

In an official statement, the CBK emphasized that these modifications are an enhancement of the existing currency and will coexist with the previously circulated notes. The four principal changes to the banknotes are as follows:

The CBK statement clarified,

This currency update will be implemented gradually, beginning with the highest denomination. The CBK announced.