2024-01-10 12:31:07
Central Bank of Oman Announces Withdrawal of Certain Omani Rial Notes
The Central Bank of Oman (CBO) has made the decision to withdraw a number of Omani Rial notes from circulation, with the process expected to be completed within 360 days from January 2024. This means that current holders of these notes will need to exchange them at banks within this period.
The bank notes that are being withdrawn include the 1500, 200, and 100 bisa notes issued in November 1995. Additionally, the 50, 20, 10, and 5 Riyal notes issued in November 2000, the 1 riyal commemorative note issued in 2005, the 20 riyal commemorative note issued in 2010, and the 50, 10, 5, and 1 riyal commemorative notes issued in 2011-2015, and the 50 riyal note issued in 2019.
These currency notes are no longer considered legal tender, and the public is encouraged to exchange them at banks, financial institutions, and retailers during the specified period. According to an online notice from the Central Bank of Oman, these banknotes will cease to be in circulation and will have no legal value after the specified period for exchange has expired.
All banks, financial institutions, and retailers operating in Oman have been instructed to accept these banknotes from the public during this period. The Central Bank of Oman has advised the public to take note of this announcement and to ensure that they exchange these banknotes within the specified timeframe.
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