Thursday, September 15, 2005

The RM1 coin

People, you do not have to accept the RM1 coin as change when you shop. Sez who? Sez Bank Negara. Business folks such as petty traders, restaurants and retailers are not to supposed to pass them off to customers but instead collect them back to help the government mop up the RM1 coins that are in circulation before they cease to be legal tender on December 7.

Bank Negara, aware of the above, held briefings for traders, hawkers and business associations telling them to stop the practice and bank in the coins to help the central bank mop up the coins by the deadline.

The central bank said that the public should refuse to accept RM1 coins as change.

The RM1 coins can be exchanged at all branches of commercial banks, the main branches of Bank Simpanan Nasional and Bank Negara Malaysia’s branches in Kuala Lumpur, Penang, Johor Baru, Kuala Terengganu, Kuching and Kota Kinabalu.

Bank Negara officials would go to hypermarkets, supermarkets, pasar borong and other areas to collect all the RM1 coins before the deadline on Dec 7.

You can do some charity by making good use of the RM1 coins by giving them to The Star, which is collecting the coins for charity.

The public have until Dec 5 to donate their RM1 coins at Menara Star here, the Star Northern Hub in Bayan Lepas or The Star bureau offices nationwide.


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