Keeping up with the changing time to give a new attractive look to currency notes depicting Qatar’s cultural heritage and development as well as to add most sophisticated security and technical features in them, Qatar Central Bank (QCB) is set to launch fifth issue of Qatari banknotes on Qatar National Day.
The new issue which contains seven categories of banknotes 1, 5, 10, 50, 100, 200, and 500 Riyals, have an aesthetic painting from Qatar’s environment and heritage and also reflect Qatar’s sovereignty in decision-making, as well as reflect economy, health and sports.
Each category has specific security and technical characteristics according to their respective value, starting from 38 specifications up to 64. The QCB has not only taken all necessary measures with regard to security marks and high-tech specifications it also included, for the first time, the flag of the State of Qatar and the date of issuance of the banknote.
QCB also issuing the 200 Riyals, which is a whole new cash category aiming to bridge the gap between the 100 Riyals and 500 Riyals banknote. The designs as well as security characteristics of banknotes as publicised in media are being liked by the people who have welcomed the move.
Executive Director of the Public Debt, Banking Affairs and Issuance at QCB Mohamed Jassim Al Kuwari said that noted that the first stage of the new issuance includes pumping QR8bn into banks, increasing it to QR16bn before the end of December, to reach QR20bn by the end of January 2021, pointing out that it is the same amount offered in the fourth issue.
Al Kuwari said that what distinguishes these banknotes is the beauty of calligraphy as the State of Qatar is the second in the world after Britain in this regard, and it is also the first in the Middle East in terms of the holographic security threads in the category of QR 500 notes. He highlighted the stages of launching the new issue of the Qatari banknotes, starting with their distribution to banks in preparation for making them available in ATMs.
He pointed out that the FIFA World Cup Qatar 2022 was not overlooked, as one of the categories of the new issue included stadiums for the tournament, and that the QCB has a huge project for the 2022 World Cup related to the issuance of commemorative coins, where designs and models are now being done.
