Central Bank of Sana'a Initiates Destruction of 13 Billion Yemeni Riyals in 100-Riyal Banknotes
Sana'a - SABA:
The Central Bank of Yemen in Sana'a has initiated the process of destroying 13 billion Yemeni riyals in 100-riyal banknotes.
During the inauguration, Ahmed Al-Jaafari, Director General of Issuance and Treasury at the Central Bank, explained that this destruction is authorized by Law No. 14 of 2000 governing the Central Bank of Yemen, which authorizes the withdrawal and destruction of damaged banknotes, as well as Administrative Decision No. 192 of 2010, which established the destruction committee. The process was approved by the Governor of the Central Bank on December 21, 2024 (20 Jumada al-Thani 1446 AH).
He noted that the destruction process was necessary as the 100-riyal banknotes had deteriorated to an unacceptable level, causing numerous issues in transactions. This step follows the successful introduction of a 100-riyal coin, which has been circulated as a replacement for the damaged banknotes.
Al-Jaafari confirmed that the first destruction plan has been prepared and approved for an initial amount of 13 billion riyals in 100-riyal banknotes, following a meticulous and systematic procedure. He pointed out that 40 million riyals in damaged 100-riyal notes are being destroyed daily.
"For the first time since 2016, we have resumed the destruction process for 100-riyal banknotes using advanced and environmentally safe methods that meet the highest health and regulatory standards," he added.
Regarding other damaged currency denominations, Al-Jaafari assured the public that the Central Bank is committed to addressing the issue and will take all necessary steps to serve the public interest and ease their struggles with deteriorating banknotes.
The destruction process was attended by members of the supervisory committee overseeing currency disposal at the Central Bank.
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