Replacing Damaged Saudi Banknotes
| No: 42015322 | Date(g): 27/10/2020 | Date(h): 11/3/1442 |
Translated Document
Effective from 2020-10-27 - Oct 26 2020
To view other versions open the versions tab on the right
In addition to the instructions of SAMA communicated under Circular No. 34734, dated 10/7/1432 H 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 SAMA's commitment to providing sound and usable banknotes, SAMA affirms the acceptance and exchange of various currency denominations after verifying their authenticity. SAMA 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 SAMA) 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 SAMA |
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 SAMA's branches to supply it.