All cash from local banks will be quarantined for one week to avoid COVID-19 – Central bank

Central Bank of Kenya (CBK) boss Patrick Njoroge has announced the government will quarantine all cash from local banks for one week, according to Tuko.co.ke. 

The news website reported that the hilarious but serious move is in line with precautionary measures being undertaken by the government of Kenya to avoid the spread of COVID-19 which is also transmitted through cash exchange. 

Announcing the measure, Njoroge encouraged Kenyans to adopt mobile money transfers in their daily transaction to minimize the chances of spreading the virus. 

The CBK boss also announced the government will relief borrowers of personal loans to cushion them against the economic impact of coronavirus.

 "To cushion the impact of COVID-19 on most vulnerable in society, the banks will seek to provide relief to borrowers on their loans," Njoroge is quoted as saying.

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According to him, the banks will extend the period of repaying the loans to a period of one year, all in the bid to ensure that the Coronavirus is contained. 

He further urged borrowers to visit their respective banks to discuss and agree on the repayment plan.

"Banks would review requests by borrowers to extend their loans for a period of up to one year. So, if you have a loan and you are getting difficulties (repaying it) maybe because of the coronavirus crisis, you can go to your bank and discuss it," said the CBK boss.