JamiiForums |The Home of Great Thinkers - View Single Post - Kenya-Central Bank bans big cheques
View Single Post
  #3  
Old 1st July 2009, 04:00 PM
Lole Gwakisa's Avatar
Lole Gwakisa Lole Gwakisa is offline
Lole Gwakisa has no status.
JF Senior Expert Member
Points: 225,228, Level: 100 Points: 225,228, Level: 100 Points: 225,228, Level: 100
Activity: 3% Activity: 3% Activity: 3%
 
Join Date: Wed Nov 2008
Posts: 1,180
Thanks: 289
Thanked 281 Times in 139 Posts
Rep Power: 24
Lole Gwakisa will become famous soon enoughLole Gwakisa will become famous soon enoughLole Gwakisa will become famous soon enoughLole Gwakisa will become famous soon enoughLole Gwakisa will become famous soon enoughLole Gwakisa will become famous soon enoughLole Gwakisa will become famous soon enoughLole Gwakisa will become famous soon enough
Default Re: Kenya-Central Bank bans big cheques

Quote:
View Post
This is the same as what BoT introduced in March 2009. Uganda introduced the move way back 2007. In fact, the move is implemented in all East African states with the same aim as stated before. Habari ya ku forge cheques zenye value kubwa kwishne, they wont be around, ukijitahidi sana sana utaambulia Milioni 10 kwa TZ na sio zaidi. Nafikiri its a good move!
Forgerers are not fools.They will study the system before making their move.
The "new" interbanking system and transfer of cash between banks is open to abuse,so long as there is little or no security on the initiation of money transfer transfer, as compared to the cheque system
It might be convenient to the banks but as we have learned from the BOT scandal, bigger crooks abound in almost all banks.
Reply With Quote