Replacing Damaged Saudi Banknotes
| No: 42015322 | Date(g): 27/10/2020 | Date(h): 11/3/1442 |
Effective from 2020-10-27 - Oct 26 2020
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In addition to the instructions of the Central Bank communicated under Circular No. 34734, dated 10/7/1432 AH Regarding the task assigned to banks to receive and exchange damaged banknotes from beneficiaries (torn, burned, eroded, incomplete edges or parts, or any of the main features missing due to dirt, adhesive materials, or inappropriate inscriptions, ...).
And based on the Central Bank's commitment to providing sound and usable banknotes, the Central Bank affirms the acceptance and exchange of various currency denominations after verifying their authenticity. The Central Bank adopts the specified mechanism for accepting and compensating damaged currency presented by the public.
| 1 | The replaced banknote must be clearly visible and not less than 60% of the original banknote. |
| 2 | The two signatures (Minister of Finance and Governor of the Central Bank) or the two serial numbers must not be missing. |
| 3 | If the banknote is not clearly visible due to exposure to fire or other natural factors such as corrosion, the holder must present it to one of the branches of the Central Bank. |
For information. And to act accordingly. And to emphasize to all bank branches, banks and monetary centers to circulate sound cash and withdraw damaged and invalid cash from circulation, and to coordinate with the branches of the Central Bank to supply it.