GAMBIA'S POOR QUALITY POLYMER BANKNOTES

The defective D20 polymer banknotes that was reported in your popular online paper in January 2016 is still in circulation albeit with worsening condition making the portrait of the president and the central bank seal fading beyond recognition. Central banks are tasked with issuing bank notes. The trust of the people in those bank notes is the essence of monetary value. When the people can no longer read or feel by touch(for those who are visually impaired) the “promise to pay on demand” clause that is printed on the obverse side of the notes to guarantee its value, then that currency note should be taken out of circulation.

As long as the currency is allowed to circulate, the once heralded polymer notes printed with ‘superior’ new technologies and improved securities have its colors smudged with faded ink. The indisputable fact is that the polymer notes are more expensive to print when compared to the usual paper- notes and such they are expected to last longer since they are made from durable plastic.

It is exactly one year ago today, 26 February 2015, that the central bank of the Gambia launched the new commemorative 20 Dalasi banknote to mark 20 years of Yahya Jammeh’s rule as president of the Gambia. According to news release from De La Rue International Limited, the firm that printed the new notes, “this is the first new note to be put into circulation in The Gambia for almost 20 years.” There is no doubt that these new notes that wear out so quickly continue to be shunned by business people, traders, farmers , taxi drivers and many Gambians making it no longer useful as a legal tender.

Public confidence is eroding fast and with increasing frequency of circulation all the writings are becoming illegible. That being case the central bank have the mandate to intervene and withdraw it from circulation otherwise many people will continue to reject them.

To read the complete article, see:
Gambia: The New 20 Dalasi Polymer Note: (For Toilet Use Only)! (www.freedomnewspaper.com/gambia-the-new-20-dalasi-polymer-note-for-toilet-use-only/)

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