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Article (16) Withdrawal of Currency From Circulation

(a) The Central Bank may withdraw any currency it has issued against payment of the face value thereof by publishing a notice to that effect in the Official Gazette and two local daily newspapers, one published in English and the other in Arabic language.
(b) A notice for withdrawal of currency shall specify the following:
1. The currency to be withdrawn.
2. A period of a minimum of thirty days during which the relevant currency can be surrendered.
3. Any additional conditions regarding such withdrawal.
(c) After the end of the Surrender Period any currency to which the notice applies shall cease to be legal tender.
(d) Without prejudice to the preceding paragraph, the Central Bank may, in a notice published under paragraph (a) of this Article, allow the payment of the face value of such withdrawn currency at its discretion.