(MENAFN- Arab Times) Central Bank of Kuwait says the validity period of the old currency will end on Oct 1, and the bank is all set to withdraw the remaining banknotes from the system before the deadline, reports Al-Shahed daily.
The daily quoting sources explained the proportion of old banknotes currently in circulation is below one percent, and that individuals in possession of the legal tender have the right to exchange them at the central bank within 10 years, as per the decree published in the April 19, 2015 edition of the official Gazette. They reiterated the banknotes will be rendered invalid after the deadline on April 18, 2025.
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