In accordance with Article 45 (D) of the Banking Law issued under Royal Decree 114/2000, the CBO had earlier informed all banks, finance and leasing companies operating in the sultanate, as well as citizens and residents, that it has set aside one month starting July 1 to replace the old notes.
In a statement, CBO said, all old Omani notes issued before November 1, 1995, including First issue: Saidi rial issued in 1970 under the supervision of Muscat Currency Authority (100 baisa, Quarter rial, Half rial, One rial, 5 rials and 10 rials)
Second issue: Banknotes issued in 1972 under the supervision of Oman Currency Board (100 baisa, Quarter rial, Half rial, One rial, 5 rials, 10 rials)
Third issue: Banknotes issued in 1976 under the supervision of CBO (from 100 baisa to 50 rials Fourth issue: Banknotes issued in 1985 under the supervision of CBO (from 100 baisa to 50 rials)
Fifth issue : Banknotes issued 50 rials, 20 rials, 10 rials and 5 rials, issued before November 1, 1995, which do not have the shiny holographic security strip on their front side will not be legal tender.
‘All old notes mentioned above shall be replaced with the ones currently circulated at our head office in Ruwi or our branches in Salalah and Sohar. It should be noted that these currencies will not be legal tender beyond the replacement date and will not be accepted thereafter,’ CBO said.