E-ang pow: CNY 2024 to see a drop in new banknotes?

Angpow packets (file pic)

KUCHING, Jan 31: The Association of Banks in Malaysia (ABM) is urging the Chinese community to switch to e-ang pow for the upcoming Chinese New Year in order to protect the environment and raise awareness.

This comes as banks reduce the number of new notes available for the festive season, encouraging customers to recycle banknotes instead, RinggitPlus reported on January 30.

According to the article, ABM disclosed it has been collaborating with Bank Negara Malaysia (BNM) for several years to promote the use of e-ang pow through the Go Green campaign, as it is ‘convenient as well as environmentally friendly’.

ABM noted that the aforementioned practice, which has also been adopted by various other countries in the region, will help to reduce carbon emissions and conserve resources while still conveying the same well wishes to loved ones.

“Individuals who wish to still give out physical angpow, meanwhile, can use recycled fit banknotes for the occasion. Fit banknotes refer to notes that meet the quality criteria and standards to be kept in circulation, as determined by BNM,” RinggitPlus wrote.

Meanwhile, The Star reported on January 29 that Federation of Chinese Associations Malaysia (Huazong) women’s chief Datuk Natalie Lim Chong Ly believed that using new banknotes for ang pow ‘represents good intentions, similar to wearing new clothes’.

Lim pointed out that the tradition of giving new notes to family members and elders should be maintained.

However, she suggested using ‘recycled’ notes in ang pow given to friends.

Recognising the growing environmental awareness, she suggested that banks reduce the number of new banknotes and instead provide ‘half-new’ ones.

She also advised banks and businesses to prioritise quality over quantity when printing ang pow envelopes in order to reduce their environmental impact.

“By creating unique and visually appealing envelopes, people are more likely to value and keep them rather than discard them,” Lim added, as quoted by the news outlet. — DayakDaily