KNCCI-Nairobi Position Paper on New Generation Bank Notes

Article 231 of the Kenyan constitution, section (2) provides that the Central Bank of Kenya shall be responsible for formulating monetary policy, promoting price stability, issuing currency and performing other functions conferred on it by an Act of Parliament. Section (4) further provides that notes and coins issued by the Central Bank of Kenya may bear images that depict or symbolise Kenya or an aspect of Kenya.

In the spirit of the constitution, the CBK issued new generation banknotes by a Gazette Notice No. 4849 of May 31, 2019 notifying members of the public that it was moving to issue banknotes that are consistent with the provisions of the country’s supreme law. The CBK announced it had considered constitutional provisions on features and elements to be depicted in the new generation banknotes, invited public participation to capture views on the design of the elements and consulted widely on features that meet the institution’s technical requirements.