KUWAIT, June 10 (KUNA) -- The Central Bank of Kuwait (CBK) announced Monday
that it will release new currency notes with "modern and enhanced security
features" to cope with latest counterfeiting challenges in the printing
"The CBK has decided to release new issue of Kuwaiti bank notes of all
denominations to cope with the developments to improve hallmarks, security
features and paper quality," CBK Governor Mohammad Al-Hashel said in exclusive
statements to KUNA Monday.
"The cabinet, upon a recommendation of the CBK, endorsed today the new
issuance and the features and design of the different notes," marking "the
sixth issuance of the Kuwaiti currency notes since 1961."
The unit of currency in Kuwait is the Kuwaiti dinar, divided into one
thousand fils, while notes are issued according to the denominations of the
quarter dinar, half dinar, one dinar, five dinars, 10 dinars and 20 dinars.
Al-Hashel pointed out that the CBK has started preparations for the
printing and circulation of the new notes, expecting that they will be on the
market within a year with the current ones continuing to be curculated as they
are gradually withdrawn from the market.
The CBK Governor expressed confidence that the new banknotes will be to the
liking of bankers and the public.
There have been five issues of Kuwaiti currency notes since the
introduction of a state legal tender on the matter in 1961. The fifth and
current issue was released in 1994. (end)
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