22nd November 2023 - In a recent announcement, the management of Bank of Uganda has issued a warning specifically targeted at florists, designers, and gifting stylists regarding the improper use of currency notes.
According to the warning released today, designers have been observed using currency notes, particularly new ones, in the creation of bouquets and similar artistic arrangements.
The statement highlights that this practice often involves sticking together brand new currency notes using adhesive materials such as glue, cello-tape, pins, clips, and other adhesives. These floral bouquets incorporating currency notes are commonly used in various social events and gifting ceremonies.
The Central Bank has expressed concern over the detrimental effects of this practice on the utility of banknotes. When currency notes are affixed together, they become unsuitable for use in cash processing and distribution equipment like counting machines and ATMs.
Moreover, this practice leads to the premature withdrawal of damaged banknotes from circulation, requiring their replacement at the expense of the taxpayer.
In light of these issues, Bank of Uganda urges florists, designers, and gifting stylists to refrain from incorporating currency notes into their creations. The Bank emphasizes the importance of preserving the integrity and functionality of banknotes to ensure smooth cash processing operations and minimize unnecessary costs.
It is essential for all concerned individuals and businesses to adhere to these guidelines to maintain the overall efficiency and effectiveness of Uganda's currency system.
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