Qatari nationals and expatriates, especially Filipinos, breathed a sigh of relief as banks in the Gulf country extended the deadline for exchanging outdated currency notes until December 31, 2021.
The Qatar Central Bank said on Twitter that the deadline for exchanging the 4th edition Qatari notes had been extended until December 31 this year and that they could also be deposited at QNB branches, ATMs, ITMs, and bulk deposit machines during this time.
Qatar Banks Extend Deadline for Exchanging Old Currency
Doha Bank stated in an SMS that outdated Qatari banknotes would be accepted at any of its branches or cash deposit ATMs until December 31, 2021, the Qatar Tribune reported.
Meanwhile, QIB, Ahli Bank, and Al Khaliji announced on social media that customers could swap outdated currency notes at their respective branches or cash deposit machines.
Customers were advised to exchange their outdated notes at QIB cash deposit machines.”
“In compliance with Qatar Central Bank directives, we will continue to accept the old edition of banknotes in all of our branches and ATMs until December 31, 2021,” Ahlibank tweeted.
Customers were also received an SMS from HSBC Qatar, which stated, “Please note that we will continue to accept the Qatari currency fourth issuance of banknotes across all our branches and ATMs until the 31st of December 2021.”
On December 18, 2020, the Qatar Central Bank issued the fifth edition of riyal currency, which will eventually replace the fourth edition banknotes. The fifth edition included a 200 denomination for the first time in Qatar, as well as new designs for the 1, 5, 10, 50, 100, and 500 denominations, as well as increased security measures.
After the United Arab Emirates and Saudi Arabia, Qatar is the third-largest destination of Overseas Filipino Workers (OFWs) in the Middle East, and the fourth-largest destination of OFWs worldwide.