Qatar Central Bank extends circulation of old banknotes
Qatar Central Bank issued the fifth series of Qatari Riyal banknotes.
Today, Qatar Central Bank announced the extension of the circulation of the old banknotes to July 1, 2021.
Qatar Central Bank announced that it extended the circulation of the 4th Edition banknotes, until Thursday, corresponding to the July 1, 2021. Qatar Central Bank said that after this date, the banknotes will become illegal and indemnified currency. #QNA https://t.co/XebmsMeuHP pic.twitter.com/tGsLN1pxAz
— Qatar News Agency (@QNAEnglish) February 24, 2021
Qatar Central Bank said that after this date, the banknotes will become illegal and indemnified currency, with the holder remaining entitled to recover its value from the Central Bank within a period not exceeding 10 years from the date of the withdrawal decision.
In its statement, Qatar Central Bank referred to the decision of HE the Governor of Qatar Central Bank No. 99 of 2020 issued in the Official Gazette on 27/12/2020 regarding the withdrawal of banknotes from circulation, starting from 18/12/2020, after the fifth edition was put into circulation.
Qatar Central Bank also clarified that this decision comes in accordance with the provisions of Articles 54 and 55 of the Qatar Central Bank Law and Regulation of Financial Institutions issued by Law No. 13 of 2012.
Qatar Central Bank stressed the importance of preserving the national currency and not tampering with it, whether by writing, perforation, or otherwise, indicating that these acts are criminalized by the provisions of Article 56 of the aforementioned Qatar Central Bank Law.
The old banknotes can be exchanged for the new ones through local banks.
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