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Up to 5-year jail for damaging features of currency note in Saudi

Web Report
Filed on November 7, 2019
currency note, banknotes, Saudi Arabian, Saudi

(Photo: Alamy)

It is illegal to damage, change weight and size of currency notes.

Cracking down on those damaging banknotes by using them for purposes like decorating flower bouquets, the Saudi Arabian Monetary Authority (SAMA) warned of strict penal action similar to penalties for counterfeiters.

According to reports in Saudi Gazette, sources said that the central bank has directed the Council of Saudi Chambers to prevent flower dealers from using chemical solutions to decorate flower bouquets as they damage banknotes. The move comes after it was noted that many people approached the bank to replace damaged currency.

The violators will be dealt under Special Penal Code on Counterfeiting and be imprisonment for a period of three to five years, and a fine of not less than SR3,000 and not exceeding SR10,000 or either of these penalties. It is against the law to change features of currency notes, or distort or tear or wash them by chemical means. It is also illegal to partially damage, change weight and size of currency notes.

SAMA stressed that banknotes should be used only through the channels that have been created for them.

Cracking down on those damaging banknotes by using them for purposes like decorating flower bouquets, the Saudi Arabian Monetary Authority (SAMA) warned of strict penal action similar to penalties for counterfeiters.

According to reports in Saudi Gazette, sources said that the central bank has directed the Council of Saudi Chambers to prevent flower dealers from using chemical solutions to decorate flower bouquets as they damage banknotes. The move comes after it was noted that many people approached the bank to replace damaged currency.

The violators will be dealt under Special Penal Code on Counterfeiting and be imprisonment for a period of three to five years, and a fine of not less than SR3,000 and not exceeding SR10,000 or either of these penalties. It is against the law to change features of currency notes, or distort or tear or wash them by chemical means. It is also illegally to partially damage, change weight and size of currency notes.

SAMA stressed that banknotes should be used only through the channels that have been created for them.


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