Banks upscale Covid-19 preventive measures

COMMERCIAL banks, being part of the larger economy, have stepped up efforts to prevent the spread of the Covid-19.

This is according to the Bankers Association for

Zambia (BAZ) Public Relations Officer, Mirriam Zimba.

Ms Zimba said a study by the New York University established that over 3, 000 different kinds of bacteria could be harboured in banknotes.

She explained that this was because the fibrous surfaces of banknotes could provide crevices for bacteria to thrive.

“Although person-to-person contact with infected persons poses the greatest risk for the spread of the Covid-19, some countries, through their Reserve Banks, have taken to placing under quarantine bulk cash received from high-risk nations for up to seven to ten days to avoid spreading the virus.

“There are countries that have employed the use of ultra-violet rays to routinely disinfect banknotes to curb the risk of spreading of various infections,” she said.

Ms Zimba said commercial banks had, therefore, put in place measures to ensure the safety of customers and the bank staff in the heightened risk of the spread of Covid-19.

She explained that this was because commercial banks were financial service intermediaries, and collectively, interface with multitudes of people on a daily basis.

“With the increase in the number of infections in the communities, the traditional the traditional payments ecosystem could expose countless people to the risk of the Covid-19 infection.

“There are countries that have employed the use of ultra-violet rays to routinely disinfect banknotes to curb the risk of spreading of various infections,”

“Commercial Banks facilitate millions of cash transactions every day presenting opportunities to spread infections such as common colds and influenza to more serious infections such as the Covid-19,” Ms Zimba said in her write-up on banking.

She indicated digital payment platforms presented an alternative to cash transactions.

Ms Zimba explained that digital Apps and mobile wallets allowed consumers to make in-person payments without contact with another person.

BAZ, she said, as part of the response to the threat to help prevent the spread of the infection had recommended best practices to commercial banks.