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THE_designs of new Bahrain banknotes have been revealed to GulfWeekly by the Central Bank of Bahrain.
The banknotes, which feature new designs and added security, will be in circulation over the next few weeks.
Denominations of BD20, BD10, BD5, BD1 and BD1/2 have all been updated, showing new images of His Majesty King Hamad and Bahrain's landmarks.
Each denomination of banknote has a new design and some denominations have a new colour. All of the new notes incorporate enhanced security features.
Dr Abdul Rahman Saif, executive director banking operations, said the currency will be released into circulation at a date soon to be announced.
The existing currency will remain a legal tender until further notice from the bank. No change is being made to coins in circulation.
"The new banknotes and the existing banknotes will co-circulate for a period of time, to allow for all existing banknotes to be returned to the CBB in the normal course of business," said Fahad Al Arabi, head of vault, at the bank.
Officials say the change to the new currency was necessitated by the enactment of the Central Bank of Bahrain and Financial Institutions Law (CBB Law) issued in September 2006 which provided for The Central Bank of Bahrain to succeed the now-defunct Bahrain Monetary Agency (BMA).
As the successor organisation of the BMA, the bank assumed all the rights and obligations of the BMA. As such, the existing currency, bearing the name of the BMA, has remained a legal tender.
"The new currency reflects this significant change and each denomination of new banknotes bears the name of the Central Bank of Bahrain," said Dr Saif.
The bank is working with all concerned parties to ensure a smooth and effective transition to the new currency.
