Qatar Central Bank (QCB) has said the period for the exchange of old currency (fourth edition) notes is open until further notice.
In a series of tweets yesterday, QCB said the source of funds for any amount exceeding QR50,000 should be disclosed according to the requirements of the Anti-Money Laundering and Terrorist Financing Committee.
The old notes will be replaced by banks for individuals who have accounts with them. Those who do not have accounts can also complete the exchange process at banks, but if they are unable to do so, they can go to Qatar Central Bank to exchange the notes.
Visitors from outside the country can exchange the old notes through banks or QCB, and they also have to attach the disclosure document from the General Authority of Customs in Qatar issued at the port of entry.
Some banks, too, have informed the public about this. "Kindly note that you can still replace the old currency notes with new ones through all QIB branches," Qatar Islamic Bank said in a tweet.
"According to the instructions issued by Qatar Central Bank, QIIB would like to inform you that banknotes from the fourth issue can be deposited via QIIB branches," QIIB tweeted.
In a SMS to its customers, HSBC Qatar also announced that the bank "will continue accepting the Qatari currency fourth issuance of bank notes across all our branches."
The old notes will be replaced by banks for individuals who have accounts with them. Those who do not have accounts can also complete the exchange process at banks, but if they are unable to do so, they can go to Qatar Central Bank to exchange the notes.
Visitors from outside the country can exchange the old notes through banks or QCB, and they also have to attach the disclosure document from the General Authority of Customs in Qatar issued at the port of entry.
Some banks, too, have informed the public about this. "Kindly note that you can still replace the old currency notes with new ones through all QIB branches," Qatar Islamic Bank said in a tweet.
"According to the instructions issued by Qatar Central Bank, QIIB would like to inform you that banknotes from the fourth issue can be deposited via QIIB branches," QIIB tweeted.
In a SMS to its customers, HSBC Qatar also announced that the bank "will continue accepting the Qatari currency fourth issuance of bank notes across all our branches."