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Qatar Central Bank announced today that individuals can exchange the securities withdrawn from circulation, which is the fourth issue (the old currency) with the fifth issue (the current currency) through banks until further notice.

The Central Bank explained – through a series of tweets on its Twitter account – that this step is considered to facilitate those who still possess securities withdrawn from circulation.

He pointed out that when exchanging the old currency, the person must disclose the source of funds for the amount exceeding (50,000) Qatari riyals, according to the requirements of the Anti-Money Laundering and Terrorist Financing Committee.

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Replacement is carried out by banks for those who have accounts with them.

He added that with regard to those who do not have accounts in banks, they must complete the exchange process with the banks, and if they are unable to do so, they can come to the Qatar Central Bank to exchange the money.

The Central explained that with regard to visitors from (outside the country), they can exchange through banks or exchange through Qatar Central Bank, with the need to attach the disclosure document of the General Authority of Customs in the State of Qatar issued by the port of entry in both cases.

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