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Old currency notes no longer legal tender
September 28, 2015, 3:56 pm
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The Governor of the Central Bank of Kuwait (CBK), Dr. Mohammad Y. Al-Hashel, announced that the remaining volume of the fifth issue of Kuwaiti Dinar (KWD) banknotes left in circulation will be withdrawn from public circulation, and would no longer represent legal tender, as from close of business on 1 October 2015.

Notice of this resolution was contained in the ‘Official Gazette’ dated 19 April 2015. In this regard it will be noted that a new, sixth issue of KWD banknotes was released into public circulation by the CBK on 29 June 2014.

According to the statement from the Central Bank: Existing holders of the fifth issue of KWD banknotes will be able to exchange them for new banknotes through branches of banks operating within the State of Kuwait only until the 1 October 2015 deadline.

After 1 October, the fifth issue of KWD banknotes will lose status as legal tender, and as such transactions in these notes will no longer be allowed. However, holders of the fifth issue of KWD banknotes will be able to exchange such notes in the Banking Hall of the Central Bank of Kuwait for a period of ten-years from the resolution date, which was 19 April 2015.

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