Qatar Central Bank (QCB) unveiled the fifth series of Qatar currency notes in December 2020. The new Qatari Riyal banknotes have come into effect from December 18, 2020.
As per the latest announcement, all denominations of Qatar currency notes will have new designs and added security features. QCB has also introduced a 200 Qatari Riyal banknote for the first time.
How To Exchange Old Qatar Currency Notes
SEPTEMBER 2022 STATUS: In February 2022, Qatar Central Bank (QCB) said the period for exchanging old currency (fourth edition) notes is open until further notice.
The old notes will be replaced by banks for individuals with QID and bank accounts. Those who do not have accounts can also complete the exchange process at banks, but if they cannot do so, they can go to Qatar Central Bank to exchange the notes.
Visitors from outside the country can exchange old notes through banks or QCB. They also have to attach the disclosure document from the General Authority of Customs in Qatar issued at the port of entry.
Note that this may be a time-consuming process for visitors. If you have friends or relatives with a QID, it is better to get the notes exchanged through them.
QCB said the source of funds for any amount exceeding QR 50,000 should be disclosed according to the requirements of the Anti-Money Laundering and Terrorist Financing Committee.
Some banks, too, have informed the public about this. “Kindly note that you can still replace the old currency notes with new ones through all QIB branches,” Qatar Islamic Bank said in a tweet.
“According to the instructions issued by Qatar Central Bank, QIIB would like to inform you that banknotes from the fourth issue can be deposited via QIIB branches,” QIIB tweeted.
In an SMS to its customers, HSBC Qatar also announced that the bank “will continue accepting the Qatari currency fourth issuance of banknotes across all our branches.”
New Qatar Currency Notes: Design Features
The front designs of the new banknotes share a common theme based on traditional geometric patterns, the State of Qatar flag, Qatari flora (Dreama) and an ornate gate representing the historical Qatari architecture.
The back designs comprise themes reflecting Qatari tradition, Islamic history, culture, flora and fauna and development of education, sport and the economy.
QR1 shows Traditional Dhow (Bateel) and the Oyster and Pearl Monument.
QR5 shows a traditional desert scene comprising fauna (Arab horses, Camel, Oryxes), flora (Al Qataf) and ‘hair tent’ (buryuut hajar).
QR10 shows Lusail Stadium, Torch Tower (Aspire Zone), Sidra Medicine and Education City (Qatar Foundation)
QR 50 shows the Qatar Central Bank building and the Ministry of Finance building.
QR 100 shows picture of Imam Muhammad ibn Abd al-Wahhab Mosque.
QR 200 shows pictures of Palace of Sheikh Abdullah bin Jassim Al Thani, Qatar National Museum and Museum of Islamic Art.
QR500 shows Ras Laffan LNG refinery and LNG canter ship.
New Qatar Currency Notes: Security Features
The new bank will have 64 state-of-the-art security specifications.
1) Each security thread shows the value of the denomination.
2) The numerals and horizontal line prints are raised for the benefit of blind and visually impaired.
3) When you lift the banknote up to the light to see the incomplete shapes on the front and back of the note combine to form the banknote’s value.
4) Lift the banknote up to the light to see the watermark of the State of Qatar Crest and denomination numerals.
5) Tilt the banknote and see changes to the appearance of the hologram.
6) Tilt the banknote and see the changes to the appearance of the security thread.
7) Tilt the banknote to see the Dreama flower on the gate changing colour and a bright circle moving within the flower.
Qatar Coins in Circulation
Qatar has coins of various denominations in circulation with its riyal currency notes. The coins commonly seen in circulation are of 50 and 25 dirhams (100 dirhams make a riyal).
Images Courtesy: Qatar Central Bank
Legal Warning: Currency images shown here are for awareness purposes only and should not be printed or misused. Printing currency images is a crime as per Qatari Law.
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FAQ on Qatar Currency Notes
How long is the validity of Qatar’s old currency notes?
Major banks in Qatar have announced they will be accepting old banknotes until the 31st of December 2021.
Where can I exchange old currency notes?
Old currency notes can be exchanged at banks until the 31st of December 2021.
What should I do for exchanging old currency after 2021?
After the 31st of December 2021, holders of old banknotes will be entitled to recover the value from Qatar Central Bank within a period not exceeding 10 years from the date of the withdrawal decision.
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