The Central Bank of Kenya (CBK) has unveiled the new generation bank notes that Kenyans will be using going forward.
Speaking on Saturday during the Madaraka Day celebrations, CBK governor Patrick Njoroge noted that Kenyans needs to exchange their old Sh1,000 notes with the new ones.
"All persons have until October 1, 2019, to exchange Ksh 1,000 banknotes for the new generation bank notes, after which the older notes will cease to be legal tender," Njoroge said.
The CBK governor noted that the new notes have a unique theme, and features; including the iconic Kenyatta International Convention Center (KICC), the big five wildlife, and can be easily used by the visually impaired.
He said that the decision to do away with the old notes was informed by the increased cases of money laundering, and illegal deals where the currency has been predominantly used.
"We have assessed the grave concern that our large bank notes, particularly the older Sh1,000 series, are being used for illicit financial flaws in Kenya and also other countries in the region. To deal with those concerns, all the older Sh1,000 series shall be withdrawn by a Gazette Notice dated May 31, 2019," Njoroge said.