Monday, 22 Jul 2019 | 19 Dhul Qidah 1440
CBO recalls old notes

CBO recalls old notes

In a statement, CBO stated, ‘In accordance with Article 45 (D) of the Banking Law issued under Royal Decree 114/2000, we ask all banks and FLCs operating in the sultanate as well as citizens and residents that we have set a period of one month only starting from July 1, 2019, to replace expired banknotes.’

CBO stated this contains all old Omani banknotes issued prior to November 1, 1995, such as:

First Issue: Saidi rial issued in 1970 below the supervision of Muscat Currency Authority (100 baisa, Quarter rial, Half rial, One riyal, five rials, 10 rials).

two. Second Issue: Banknotes issued in 1972 below the supervision of Oman Currency Board (100 baisa, Quarter rial, Half rial, One rial, five rials, 10 rials).

three. Third Issue: Banknotes issued in 1976 below the supervision of Central Bank of Oman (from 100 baisa to 50 rials).

four. Fourth Issue: Banknotes issued in 1985 below the supervision of Central Bank of Oman (from 100 baisa to 50 rials). CBO stated the recall choice also contains Omani banknotes issued on November 1, 1995:

1. Fifth Issue: Banknotes 50 rials, 20 rials, 10 rials and five rials, which do not have the shiny holographic safety strip on their front side.

It is consequently advised that all old notes pointed out above shall be replaced with the ones at present circulated by the CBO head workplace in Ruwi or its branches in Salalah and Sohar prior to the set deadline.

‘It should be noted that these currencies will become illegal tender beyond the replacement deadline,’ the Central Bank of Oman stated.

Information Source: Muscat Daily

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