Certain banknotes will soon be invalid in the Sultanate of Oman as a new directive from the Central Bank of Oman (CBO) comes into effect.
The Central Bank of Oman (CBO) issued a circular on 7 January 2024, announcing the withdrawal of specific denominations from circulation within a maximum period of 360 days from this date.
After 31 December 2024, these banknotes will no longer be in circulation and will not hold legal tender status.
The following banknotes will then be considered illegal and non-negotiable currency:
- Omani banknotes in denominations of OMR 1, 500 baisas, 200 baisas, and 100 baisas issued by the Central Bank of Oman in November 1995.
- Denominations of OMR 50, OMR 20, OMR 10, and OMR 5 issued by the Central Bank of Oman in November 2000.
- Denomination of OMR 1 commemorative, issued in 2005.
- Commemorative OMR 20 denomination, issued in 2010.
- Denominations of OMR 50, OMR 10, and OMR 5 issued by the Central Bank of Oman in 2011 and 2012.
- Denomination of OMR 1 commemorative, issued in 2015.
- Denomination of OMR 50, issued in 2019.
“Anyone who owns the aforementioned banknotes and wishes to exchange them must do so. Note that these currencies will become unusable and not cleared of liability as legal currency after the expiration of the period referred to,” a statement said.