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Satyendra Pathak
Doha
The Qatar Central Bank (QCB) on Sunday launched the fifth series of the Qatari riyal banknotes with improved design and security features. While banknotes in 1, 5, 10, 50, 100 and 500 Qatari riyal denominations have been redesigned with added features, a new 200 Qatari riyal denomination note has also been introduced for the first time in Qatar.
The new notes will come into circulation starting from December 18, 2020 to coincide with the Qatar National Day.
Addressing a press conference to announce the launch of new notes, QCB Executive Director of Public Debt, Banking Affairs and Currency Issue Sector Mohamed Jassim Al Kuwari said the new notes will be circulated first through ATMs starting from December 18.
It has been decided to withdraw existing banknotes from circulation within a period of 90 days from December 18, when the new notes come into circulation, Kuwari said.
People will have three months of time from December 18, 2020 to change their old notes from any bank in Qatar, he said, adding that the old notes can be changed from the QCB after the three-month period is over.
Kuwari said the banknotes of the fourth issue will become illegal and indemnified currency as of March 19, 2021, with the holder’s right to recover its value from the QCB within a period not exceeding 10 years.
He said issuing the QR200 note, which is a note category, aims to bridge the gap between QR100 and QR500 notes.
The features of the new banknotes have been completely changed from the fourth edition banknotes with the addition of over 60 security features and specifications.
Kuwari said that QCB has taken all necessary measures with regard to security features, in addition to including, for the first time, the flag of Qatar and the date of issuance of the banknote.
Doha
The Qatar Central Bank (QCB) on Sunday launched the fifth series of the Qatari riyal banknotes with improved design and security features. While banknotes in 1, 5, 10, 50, 100 and 500 Qatari riyal denominations have been redesigned with added features, a new 200 Qatari riyal denomination note has also been introduced for the first time in Qatar.
The new notes will come into circulation starting from December 18, 2020 to coincide with the Qatar National Day.
Addressing a press conference to announce the launch of new notes, QCB Executive Director of Public Debt, Banking Affairs and Currency Issue Sector Mohamed Jassim Al Kuwari said the new notes will be circulated first through ATMs starting from December 18.
It has been decided to withdraw existing banknotes from circulation within a period of 90 days from December 18, when the new notes come into circulation, Kuwari said.
People will have three months of time from December 18, 2020 to change their old notes from any bank in Qatar, he said, adding that the old notes can be changed from the QCB after the three-month period is over.
Kuwari said the banknotes of the fourth issue will become illegal and indemnified currency as of March 19, 2021, with the holder’s right to recover its value from the QCB within a period not exceeding 10 years.
He said issuing the QR200 note, which is a note category, aims to bridge the gap between QR100 and QR500 notes.
The features of the new banknotes have been completely changed from the fourth edition banknotes with the addition of over 60 security features and specifications.
Kuwari said that QCB has taken all necessary measures with regard to security features, in addition to including, for the first time, the flag of Qatar and the date of issuance of the banknote.
