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Chequebooks run out

Eric Chiriga

THE critical shortage of foreign currency is causing serious problems in the printing of chequebooks which are badly needed in the wake of the cash crisis.

erdana, Arial, Helvetica, sans-serif”>Sources said two major printing companies, Celsys Print and Typocrafters (Pvt) Ltd, are failing to produce enough chequebooks because there is no foreign currency to import special paper and magnetic ribbons which are key elements in the process.

Celsys Print production manager Ali Arap said: “We don’t have foreign currency to import the paper which is used to print chequebooks and we are now telling the banks to give us the foreign currency or they can buy the paper themselves.”

Due to the cash shortage, people had resorted to using bank cheques and the newly introduced travellers’ cheques as methods of payment.

Before the problem of chequebooks started, it took only two to three days to get a chequebook but now it takes at least a week.

At Metropolitan Bank, whose chequebooks are printed by Celsys, it used to take about four days to get a chequebook but now it takes a week or more. The situation is the same with many other banks.

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