(MENAFN- Muscat Daily) Muscat -
The Central Bank of Oman (CBO) has announced recall of all Omani banknotes issued before November 1, 1995 and those issued on November 1, 1995.
In a statement, CBO said, '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 said this includes all old Omani banknotes issued before November 1, 1995, including:
First Issue: Saidi rial issued in 1970 under the supervision of Muscat Currency Authority (100 baisa, Quarter rial, Half rial, One riyal, 5 rials, 10 rials).
2. Second Issue: Banknotes issued in 1972 under the supervision of Oman Currency Board (100 baisa, Quarter rial, Half rial, One rial, 5 rials, 10 rials).
3. Third Issue: Banknotes issued in 1976 under the supervision of Central Bank of Oman (from 100 baisa to 50 rials).
4. Fourth Issue: Banknotes issued in 1985 under the supervision of Central Bank of Oman (from 100 baisa to 50 rials). CBO said the recall decision also includes Omani banknotes issued on November 1, 1995:
1. Fifth Issue: Banknotes 50 rials, 20 rials, 10 rials and 5 rials, which do not have the shiny holographic security strip on their front side.
It is therefore advised that all old notes mentioned above shall be replaced with the ones currently circulated by the CBO head office in Ruwi or its branches in Salalah and Sohar before the set deadline.
'It should be noted that these currencies will become illegal tender beyond the replacement deadline,' the Central Bank of Oman stated.
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