{"id":44645,"date":"2023-02-09T17:32:54","date_gmt":"2023-02-09T17:32:54","guid":{"rendered":"https:\/\/www.africa-press.net\/uganda\/all-news\/bou-warns-against-using-money-for-bouquets"},"modified":"2023-02-09T19:04:20","modified_gmt":"2023-02-09T19:04:20","slug":"bou-warns-against-using-money-for-bouquets","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/uganda\/all-news\/bou-warns-against-using-money-for-bouquets","title":{"rendered":"BoU warns against using money for bouquets"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Uganda. <\/strong><\/span>The Bank of Uganda (BoU) has warned the public against a new money bouquet that involves folding banknotes, especially at functions or events. BoU says the trend shortens the currency\u2019s lifespan.<\/p>\n<p>\u201cThe money bouquet trend has brought with it several designs, several of which involve meticulous folding of the banknotes to mold the notes into artistic designs. Unfortunately, this weakens the banknotes,\u201d Mr Charity Mugumya, the director of communications at BoU, said in a Tuesday email response to this publication.<\/p>\n<p>\u201cBanknotes are a medium of exchange and a store of value; that is why Central Banks print banknotes. Therefore, it is fair-minded to call banknote accessorisation within bouquets a misuse of money. Legal tender should be handled with care and respect. It is worth adding that banknote printing is an expensive venture, and this trend, if not curbed, will increase the cost burden of banknote printing on the taxpayer,\u2019\u2019 she added. This comes after the Internet was flooded with a purported note which read \u201cBank of Uganda (BoU), in the exercise of its powers under section 98(1) of the Financial Institutions Act, 2004 (as amended) Wednesday, February 2, 2023, the public is informed that any Ugandan citizen caught misusing Uganda\u2019s money in form of making gifts for their beloved ones will be charged and taken to prison\u201d.<\/p>\n<p>The above prompted an immediate response from BoU. \u201cBoU has learnt of a purported notice to the public titled \u201cMISUSE OF MONEY\u201d quoting the date \u201cWednesday, February 2, 2023\u201d, among others, that is circulating electronically among the public,\u201d the statement to this publication read in part.<\/p>\n<p>It was further stated that BoU did not issue the notice. But emphasised that \u201cThe BoU is committed to maintaining the integrity of Uganda\u2019s currency notes and coins\u2019\u2019.<\/p>\n<p>The money bouquet has become one of the most treasured gifts in the country at traditional marriages and some social events. It has replaced flowers, fruits, and many other items.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/uganda\">Uganda<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Uganda. The Bank of Uganda (BoU) has warned the public against a new money bouquet that involves folding banknotes, especially at functions or events. BoU says the trend shortens the currency\u2019s lifespan. \u201cThe money bouquet trend has brought with it several designs, several of which involve meticulous folding of the banknotes to mold [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":44644,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,240,1578,234],"class_list":["post-44645","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-uganda","tag-the-bank-of-uganda","tag-uganda"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>BoU warns against using money for bouquets - Uganda<\/title>\n<meta name=\"description\" content=\"The Bank of Uganda (BoU) has warned the public against a new money bouquet that involves folding banknotes, especially a ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/uganda\/all-news\/bou-warns-against-using-money-for-bouquets\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BoU warns against using money for bouquets\" \/>\n<meta property=\"og:description\" content=\"The Bank of Uganda (BoU) has warned the public against a new money bouquet that involves folding banknotes, especially a ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/uganda\/all-news\/bou-warns-against-using-money-for-bouquets\" \/>\n<meta property=\"og:site_name\" content=\"Uganda\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-09T17:32:54+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-09T19:04:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2023\/02\/postQueueImg_1675951398.98.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/bou-warns-against-using-money-for-bouquets#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/bou-warns-against-using-money-for-bouquets\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"BoU warns against using money for bouquets\",\"datePublished\":\"2023-02-09T17:32:54+00:00\",\"dateModified\":\"2023-02-09T19:04:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/bou-warns-against-using-money-for-bouquets\"},\"wordCount\":337,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/bou-warns-against-using-money-for-bouquets#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2023\/02\/postQueueImg_1675951398.98.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Uganda\",\"The Bank of Uganda\",\"uganda\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/uganda\/all-news\/bou-warns-against-using-money-for-bouquets#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/bou-warns-against-using-money-for-bouquets\",\"url\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/bou-warns-against-using-money-for-bouquets\",\"name\":\"BoU warns against using money for bouquets - 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