All Currency notes deposited in banks from the public will be quarantined for one week before release, the government has announced.
Addressing the media in State House, Central Bank of Kenya (CBK) governor Dr Patrick Njoroge said that they had removed caps on bank and mobile money transfers, to encourage cashless transactions.
For instance, Kenyans will now be able to make bank transfers over Ksh1 million, unlike previously when all bank transactions were capped to Ksh1 million.
“To ensure the virus is not transmitted via cash, all cash exiting banks will be quarantined for one week. Mobile money transactions shall be enhanced with the limit per transaction now at Ksh150,000 and monthly limit of Ksh1 Million eliminated,” said Dr Njoroge.
Kenyans will also be able to have their loan repayment time rescheduled for one year.
“Banks will seek to provide relief to borrowers on their personal loans based on individual circumstances arising from the pandemic,” said Njoroge.
Early this week, mobile money operators slashed transaction cost for amounts blow Ksh1000, with Airtel slashing costs for all amounts.
The country has heightened safety measures after a fourth case of coronavirus in the country was confirmed yesterday by Health Cabinet Secretary Mutahi Kagwe.
The latest case was confirmed at the National Influenza Centre (NIC) Laboratory.
The patient is reported to have travelled from London on March 8 and arrived in the country on March 9.
The CS said the government is tracing individuals who travelled with the patient for necessary action.