Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Kuwait- New banknotes ... suitable time and smooth replacement  Join our daily free Newsletter

MENAFN - Kuwait News Agency (KUNA) - 30/06/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Kuwait News Agency (KUNA)) The wide-scale media campaign launched by the Central Bank of Kuwait (CBK) on May 19 to promote new banknotes has contributed to a smooth replacement with currently used notes in the first day of circulatio



The fact that the launching of fresh banknotes coincides with the holy month of Ramadan has also helped in a smooth replacemen



Many citizens and residents on Thursday easily withdrew new banknotes in preparation for the fasting month as young people began to get the new issue in order to post them on social communication network



Director-Manager of Kuwait Network Electronic Technology (KNET) Abdullah Al-Ajmi said withdrawal figures show that the process was very normal nationwide, noting that there was a high purchase rate at weeken



High demand for buying commodities is due to two reasons: the payment of salaries and the fasting month, he sai



However, people still need time to get familiar with the new banknotes, given that citizens were divided over the fresh currency, Al-Ajmi pointed ou



Ali Bushehri, the manager of a Gulf Bank branch, said today was a normal working day at the bank as it was the first day of the holy month of Ramada



Banking operations went on very smoothly and there were major preparations made by banks for the circulation of the new issue nationwide, he sai



Boubyan Bank sales manager Fahed Al-Fawzan said the bank has commenced preparations for the new issuance since the plan was made public several months ag



All banks have been geared up for the new banknotes, he said, hailing the issue as a magnificently formulated banknot



The new sixth issue uses the Kuwaiti flag as an inspiring artistic base for all new banknotes to illustrate and promote the national identity, he adde



Arguably the most familiar and iconic Kuwaiti landmark, the Kuwait Towers are illustrated on the banknote's front as they soar mightily into the sky. The banknote's backside alludes to Kuwait's marine life and the significance of preserving it such as the endangered hawksbill sea turtle and the silver pomfret (Al Zubaidi), Kuwait's most popular fis



The striking Liberation Tower, a massive 372-meter structure that is one of the main landmarks in Kuwait City as well as one of the tallest buildings in the world, appears on the front side of the banknote as a symbol of Kuwait's independence since its erection in 1996. The banknote's backside portrays a traditional wooden Kuwaiti door, a plaster carving and the first Kuwaiti coin used locall



With its powerful pyramid steel structure, the Central Bank of Kuwait's newly constructed building portrayed on the banknote's front side represents the Bank's objectives of ensuring resilience, stability and a sound monetary polic



The back of the banknote shows off one of Kuwait's oil refineries and a tanker as a testament to Kuwait's precious source of prosperit



A superb illustration of the Grand Mosque, the largest mosque in the country as well as a symbol of Kuwait's Islamic identity, is portrayed on the banknote's fron



The backside of the banknote displays a real-life illustration of an iconic column, one of the many influences of ancient Greece's civilization that swept across and settled in Kuwait's island of Failak



On the front side of the banknote appears the illustrious Seif Palace, a symbol of sovereignty and ruling power to all of Kuwait's erstwhile rulers where the country's affairs are administere



The Boom, the largest and most popular traditional Kuwaiti dhow, is featured on the backside of the banknote, an element that alludes to Kuwait's modernization as well as its rich economic and commercial history that is linked to the deep blue seas. Another element included on the back is a pearl diver, one of the earliest professions that enabled Kuwaitis to earn a living before the discovery of oi



The glorious Kuwait National Assembly Building, a symbolic pillar of Kuwait's democratic constitution, is beautifully illustrated on the front side of the banknote. Kuwait's diverse desert life takes over on the banknote's backside; a captivating illustration of a falcon oversees a seated camel dressed regally in a traditional sadu saddle

 






  MENA News Headlines
 Sep 2 2014 - Egypt military academy stampede kills 9Arab News
(MENAFN - Arab News) CAIRO Nine people were killed on Tuesday in a stampede outside a military academy in Egypt by relatives seeking to visit cadets the army said in a statement.The military released ...

 Sep 2 2014 - Attack on Egypt security convoy kills 11 in SinaiArab News
(MENAFN - Arab News) CAIRO: An attack on a convoy killed 11 members of the Egyptian security forces in the Sinai Peninsula on Tuesday security and medical sources said.Two were killed by a roadside ...

 Sep 2 2014 - UAE- Human League to perform in DubaiKhaleej Times
(MENAFN - Khaleej Times) The Human League bring their electro-pop back catalogue to Dubai New wave legends The Human League will bathe The Irish Village in synths for their show on Thursday September ...

 Sep 2 2014 - UAE- Ismail Matar backs Mahdis contract extensionKhaleej Times
(MENAFN - Khaleej Times) Matar hinted that het could be able to return to the pitch in two weeks time after covering half of the four-week period decided by the doctors for his recovery.Dubai: Al ...

 Sep 2 2014 - Dubai does well to curb thalassaemia in newbornsKhaleej Times
(MENAFN - Khaleej Times) Drop in the number of disease cases attributed to awareness campaigns screenings.The number of cases of thalassaemia in newborns in Dubai has drastically reduced due to the ...

 Sep 2 2014 - UAE- Umm Al Quwain offers 50 per cent off on traffic finesKhaleej Times
(MENAFN - Khaleej Times) The 50 per cent cut on pending fines includes unpaid fines for speeding and other traffic violations available till December 5.The UAQ Police are offering a 50 per cent ...

 Sep 2 2014 - UAE- Ajman launches online renewal of car registrationKhaleej Times
(MENAFN - Khaleej Times) The programme also provides the opportunity for public to renew their registration card without having to visit the traffic department.The Ajman Police on Monday launched its ...

 Sep 2 2014 - UAE- Cop accused of kidnapping raping womanKhaleej Times
(MENAFN - Khaleej Times) He drove her to a dark location near a construction site after offering a lift where he allegedly raped her.A cop has been charged in the Court of First Instance with ...

 Sep 2 2014 - UAE- Manager blackmails women staff for sex court hearsKhaleej Times
(MENAFN - Khaleej Times) Three women have complained against the 31-year-old man alleging that he had been constantly sexually harassing them.A Palestinian manager has been brought before the Court ...

 Sep 2 2014 - UAE- 22-year-old Indian found hanging from treeKhaleej Times
(MENAFN - Khaleej Times) Police patrols and paramedics were rushed to the spot who took down the body and transferred it to Al Dhaid Hospital for an autopsy.A 22-year-old Indian man was found hanging ...

more...


 






Google

Taqs

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help