Holness: there’s no attempt to remove cash from system
There is no attempt by the government to remove cash or paper money from the system.
This was declared by Prime Minister Andrew Holness today, as he responded to concerns by some, including Opposition Leader Mark Golding about digital payments and the country going cashless.
He questioned why would government print new bank notes, and not use them.
The new banknotes will be phased into circulation next month and the Central Bank has been working with retail banks to reconfigure ATM’s to accept the new notes.
He stated that there is no mandate to be cashless.
On the matter of digital currency, Mr. Holness noted that there are concerns.