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Labuan hit by coin shortage
Published on: Saturday, August 11, 2018

Labuan: Small traders, including hawkers, here are having headache in having enough coins and ringgit notes, especially 10 sen and one ringgit, which are rampantly used in daily business by these traders.

One of them, CY Tan, who deals in plastic utensils said" " I went round six banks, including those my company has no account with, to change money but all of them gave the standard reply, sorry we have no small change."

What many traders suspect is that it was not that the banks did not have the small currencies expect that they were reserving them for big account holders. As it was a profit-less exercise for the banks, they would want to keep it for big clients who are important to them.

It is not clear whether it was the only reason or there were other factors such as the coins and one ringgit notes were siphoned off by traders from small coastal towns since there were no banks there and they all needed the small money.

Another trader hoped that the relevant authority would investigate and rectify the situation and remove the dilemma of traders and hawkers. - Sohan Das

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