The change was not formal.. Qatari banknotes win the award for the best banknote collection for high-security printing

Doha

– The fifth issue of Qatar Central Bank banknotes was crowned with the award for the best banknote collection for high-security printing in Europe, the Middle East and Africa for the year 2021.

The coronation of the Qatari currencies came in a competition organized by the British "HSP", which specializes in organizing conferences and events related to central banks around the world and the security specifications included in currencies.

In December 2020, the Qatar Central Bank announced the launch of the fifth issue of Qatari banknotes with new designs and technical and security specifications, with the aim of supporting the Qatari economy after the manipulation operations that the bank monitored during the second half of 2017.

The main judging criteria for the British “HSB” competition are based on a number of elements, including that the winning banknotes combine visual art and high levels of technical and security development, with great emphasis on reflecting the heritage and cultural aspects of the issuing country, and the importance of design General and state symbols.

Al-Kuwari confirms that the fifth issue of the Qatari currency includes high standards (Qatari Press)

Security Specifications

Mohammed bin Jassim al-Kuwari, Executive Director of the Public Debt, Banking and Issuance Affairs Sector and Head of the Task Force for the Fifth Issue at Qatar Central Bank, says that the award won by the Qatar Central Bank, the first of its kind achieved by the Qatari currency in the history of its issuance, is the result of working for 4 continuous years. In partnership between the bank and the Qatari currency printing company.

Al-Kuwari explained - in a press statement - that this achievement of the fifth issue of the Qatari currency came despite the geopolitical conditions and the Covid-19 pandemic that the country experienced during that period, as the subjects of pictures, Arabic and English calligraphy and the prevailing colors in addition to the signs and security specifications in all categories were carefully selected. And accuracy, and a 200 Qatari riyal note was issued to be a new denomination for the first time in the history of currency issuance.

He pointed out that the fifth issue of the Qatari currency includes high standards, especially the denomination of 500 Qatari riyals, which is the first in the world to carry the compact and accurate optical tape "Nexus" as a unique security sign provided by the printing company, and it is a combination of the latest set of Threads for security tags for banknotes.

Al-Kuwari confirms that this new security feature helps ensure that the Qatar Central Bank is at the fore in anti-counterfeiting technology, and protects banknotes from tampering and tampering.

For his part, analyst and economic expert Ahmed Akl says that the fifth issue of banknotes receiving this international award is a testament to the strength of the Qatari currency and reflects the strenuous Qatari efforts to preserve the currency's position.

Akl: The fifth issue was not a formality, but rather to increase the security volume of the currency (Al-Jazeera)

important significance

Akl added - in a statement to Al Jazeera Net - that this award is an important point that reflects the efforts of officials in the State of Qatar and their ability to develop, adapt and modernize all matters of the state, especially with regard to currencies and the banking sector.

He explains that the issuance of the fifth issue of the Qatari currency at the end of 2020 showed that the aim of it was not a formal change, but rather an increase in the volume of security for the currency, especially since the Qatari riyal remained a source of confidence for everyone, and therefore it was necessary to continue this confidence, and that the Qatari economy is the focus of attention from everyone. Either inside or outside Qatar.

According to the economist, being crowned with this award - especially at this time - has an important significance;

Because it comes months before the start of the FIFA World Cup, which will be hosted by the State of Qatar between November 21 and December 18 this year.

Akl explains that this international sporting event will make Doha an important destination for hundreds of thousands around the world, which will lead to an increase in demand for the Qatari currency, and therefore it was very important to secure this matter before the start of the World Cup;

In order to avoid the occurrence of any problems and to protect the users and traders of the Qatari currency, considering that this is a great indication of the far-sightedness and important vision enjoyed by the Qatari leadership in light of these circumstances and the changes that the world has witnessed in recent years.

Akl concluded - his statement to Al Jazeera Net - by emphasizing that this award is an important achievement for the Qatari economy, which will be the focus of attention during the coming period, adding that its coronation will greatly contribute to encouraging investors and increasing confidence in the Qatari economy, and reaffirming the ability of Qatar and its officials to adapt and simulate development that is happening in the world.

It is worth noting that the Qatar Central Bank has set up in the new currency a new system related to tracking banknotes, starting from placing them in the trading market until they are returned to the bank. .