Parliament has passed Bill Number 16 of 2026, Bills of Exchange (Amendment) which aims at stopping usage of cheques as a mode of payments for business and individuals.
The bill was presented in Parliament by Minister of Finance Joseph Mwanamveka today saying usage of cheques has declined significantly with the coming in of digital mode of payments.
Sosten Gwengwe chairperson of joint parliamentary committee on legal affairs and budget and finance supported the decision of phasing out use of cheques.
Gwengwe has then urged commercial banks to strengthen their digital platforms to be reliable to the users.
On his part Peter Dimba spokesperson on finance from Malawi Congress Party backed the ammendments saying the neighboring countries stopped using cheques.
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