The Reserve Bank of Malawi, together with the Bankers Association of Malawi, published an update on its initiative to phase out cheque usage, noting that the process is not yet ready to move to a definitive cessation date because the legal amendments required to support the change are still pending. In the meantime, cheque payments remain acceptable in Malawi. Plans to discontinue cheques, previously flagged as contingent on a review of the Bills of Exchange Act, have been delayed beyond the anticipated December 2025 completion date, with amendments yet to be finalised. The proposed Bills of Exchange (Amendment) Act is intended to enable cheque phase-out and address technological developments, user protection, fraud reduction, and ambiguities in the current law, while banks continue customer outreach to encourage migration to digital payment platforms and maintain alternative payment services. Once Parliament passes the amendments, the public will be informed of the definitive date for discontinuing cheque usage, and efforts are underway to have the legislation enacted at the next sitting of Parliament.
Reserve Bank of Malawi 2026-01-08
Reserve Bank of Malawi says cheque phase-out timeline depends on Bills of Exchange Act amendments
The Reserve Bank of Malawi and the Bankers Association of Malawi announced that the phase-out of cheque usage is delayed due to pending legal amendments to the Bills of Exchange Act, with cheque payments remaining acceptable until further notice. The proposed amendments aim to facilitate the transition to digital payments and address legal ambiguities, with efforts to enact the legislation at the next parliamentary session.