QCB extends circulation of 'old' banknotes until July1
February 24 2021 03:44 PM
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Qatar Central Bank said that after July 1, 2021 the 4th Edition of banknotes will become illegal and
Qatar Central Bank said that after July 1, 2021 the 4th Edition of banknotes will become illegal and indemnified currency.

QNA/Doha

Qatar Central Bank announced Wednesday that it has extended the circulation of the 4th edition banknotes, until July 1, 2021.
Qatar Central Bank (QCB) 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 the statement, QCB referred to decision No. 99 of 2020 of HE the Governor of Qatar Central Bank 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.
QCB stressed the importance of preserving the national currency and not tampering with it, whether by writing, perforation or otherwise, indicating that these acts are criminalised by the provisions of Article 56 of the aforementioned Qatar Central Bank Law.

Last updated: February 24 2021 11:58 PM


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