Acceptance and Exchange of Small Denominations of Saudi Banknotes from the Public
| No: 321000015864 | Date(g): 12/6/2011 | Date(h): 11/7/1432 |
Translated Document
Referring to SAMA circulars regarding the acceptance and exchange of small denominations (specifically the one riyal and five riyals denominations), including:
| Circular Number | Date | ||||
| 1) | 1419/ M A /40 | 04/02/1407 H | |||
| 2) | 406/ M A /290 | 21/07/1412 H | |||
| 3) | 1941/ M A T /95 | 05/02/1418 H |
In view of the fact that some banks do not abide by the content of these circulars and are reluctant to accept and replace small denominations, SAMA wishes to emphasize the importance of full compliance with the contents of the circulars referred to above.
We hope to assign the competent department to verify the commitment of the branches to accept and replace all cash denominations, and to meet the public's need for those denominations.