Banks Remind Citizens to Exchange Old Banknotes Before 1 July 2021
The banks are reminding citizens and expatriates in Qatar to exchange their old banknotes before the deadline on 1 July 2021.
Qatar National Bank reiterated in a tweet that the exchange of old notes needs to be done before the date mentioned.
— QNBGroup (@QNBGroup) June 7, 2021
In February this year, QCB had stated that after the extended deadline on 1 July, the banknotes of the fourth series will become illegal and indemnified currency, with the holder entitled to recover the value of the remaining notes from the Central Bank within a period not exceeding 10 years from the date of the withdrawal decision.
Customers can deposit old notes in the ATMs which are now dispensing new banknotes. Also, the banks have upgraded their ATMs and deposit machines for the new banknotes which have high-security features and new designs.
— QIIB (@QIIBOFFICIAL) May 25, 2021
The fifth series of Qatar Riyal banknotes were announced last December, with designs featuring Qatari tradition, Islamic history, culture, flora and fauna, and development in the field of education, sport and economy. The new denomination of QAR200 was also released which aims to bridge the gap between QAR100 and QAR500 banknotes.
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