BoT orders banks to accept worn out banknotes that meet prescribed requirements

MANYARA: COMMERCIAL banks in Manyara Region have been directed to ensure they accept worn banknotes that meet the prescribed requirements, following complaints from members of the public that some banks have been refusing to accept such currency.

The directive was issued by Cletus Mwakalinga, Operations Manager at the Bank of Tanzania (BoT), Arusha Branch, during the Tanzanite Manyara Trade Fair, which is being held at the Tanzanite Kwaraa Grounds in Manyara Region from October 15 to 21, 2026.

Mwakalinga said worn banknotes may be accepted provided they are genuine, retain at least 75 per cent of their original surface area and have not been deliberately damaged.

He also urged members of the public to handle and store their money properly to prevent premature wear and damage. He emphasised the importance of avoiding unsuitable storage conditions that could lead to the deterioration of banknotes.

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Meanwhile, the guest of honour at the opening of the exhibition, Babati Town Council Director Shaaban Mpendu, who represented Manyara Regional Commissioner Martin Shigela, urged members of the public to use the trade fair to promote their businesses, raise their visibility and purchase the various products on display.

Mpendu said the exhibition provides an important opportunity for traders and entrepreneurs to grow their businesses, market their products and services, and expand their customer base.

The Bank of Tanzania is participating in the exhibition to educate the public about its mandate and responsibilities, while also collecting views and feedback from Manyara residents regarding its operations.

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