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Friday, March 5, 2021

New year, new money

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Authorities unveil the designs for new banknotes which included a brand new 200 riyal bill.

Qatar Central Bank has announced the new designs of the fifth issue of the Qatari riyal bills, which include a 200 note that will be released on the country’s National Day.

The new Qatari riyals were announced by the Central Bank at a conference held on Sunday. 

According to officials, the current banknotes will be withdrawn within 90 days from the date of issuance, with three additional months to finally withdraw them from the public.

As for those who still hold the current riyal banknotes, they are allowed to exchange them from the Central Bank for a period of 10 years.

Read also: Qatar approves fiscal budget for 2021

In the first stage, the country is going to pump QAR 8 billion of the new banknotes by the end of January 2021, with the aim of eventually reaching a total of QAR 20 billion.

The new designs look drastically different, with the 500-riyal bill looking similar the current, pink 50-riyal banknote. In a more modern approach, the new bills will feature Qatar’s most recent landmarks, including the Qatar National Museum and the Al-Thumama stadium, which is going to be the venue for some of the 2022 World Cup matches.

The current notes were unveiled back in 2003, and introduced holographic security threads and plastic foil see-through windows.

The new banknotes will have 62 security features, including a barcode.

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