The Central Bank of The Gambia has recently announced that it has reached agreement with the British high-security paper and printing technology company De La Rue Ltd., since August 26th 2022, for the supply of new banknotes.
“The Central Bank of The Gambia hereby acknowledges and shares the general public’s concern about the condition of some of the Dalasi banknotes in circulation and has been working on addressing this issue. In this regard, the Central Bank entered into an agreement with the currency printers (De La Rue Ltd.) on August 26th 2022, for the supply of new banknotes,” the Bankers Banks indicated in a press statement last week Thursday 26th January 2023.
According to the agreement, the Central Bank expects to receive the first consignment of additional new banknotes in February 2023. It is reported that the process will be intensified once these currencies are received.
Accordingly, the release indicates that the Central Bank’s banking hall will be open to the public for the exchange of mutilated and soiled banknotes with effect from Monday January 30th 2023.
Furthermore, the Central Bank said they will commence the withdrawal of old series of banknotes effective February 15th 2023, and this withdrawal will continue until the end of December 2023.
“The exchange of new family banknotes could be done at the Central Bank or any commercial bank within the country. The Central Bank wishes to remind the public that the service of exchanging banknotes does not attract any fees or charges. Hence, the public should not pay anyone for the exchange of new banknotes. The Central Bank assures the public that pursuant to its core mandate of price and exchange rate stability, underpinned by a sound and vibrant financial system, it will continue to serve the Gambian public diligently and ensure the circulation of clean currency banknotes,” the statement ends.