Syria to issue a new 500 pound banknote? (1)

According to Syria Online the Governor of the Central Bank of Syria, Adib Mayala, has indicated that a new banknote of 500 Syrian pounds will be issued in the next couple of days.

"He said  that the new notes will be circulated along with those currently in use for a certain period of time before the latter are gradually withdrawn. The new issue of notes comes within a plan which the CBS started in 2010, where banknotes of 50, 100 and 200 Syrian pounds have been produced so far. What characterizes the new banknotes, Mayala said, is that they will have different colors, depiction and figures and will be made of better-quality materials 'in a way to reflect the cultural and historical image of Syria and protect the banknotes from getting worn out'.Other characteristics pertaining to security have been taken into consideration in the newly printed banknotes, the Governor added."

I'm not immediately convinced by this announcement, since Syria is a war-torn country where a central form of government is absent in large parts of the country. To issue a new banknote in those conditions? Let's wait and find out.

Update 21 July 2014: here.

Steven Wednesday 16 July 2014 at 12:23 pm | | news
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