Saudi Arabian Monetary Agency

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Banking Control è Guidelines and Procedure

INSTRUCTIONS CONCERNING

COMPENSATION FOR TORN,

MUTILATED AND BURNT

BANKNOTES

INSTRUCTIONS CONCERNING COMPENSATION

FOR TORN, MUTILATED AND BURNT BANKNOTES

1. Compensation will be paid for tom, mutilated and burnt bank notes only if it is established that the note presented is a Saudi banknote and no less than 315 of the size of the note still exists.

The compensation will be paid as follows:

a. If all the serial numbers and signatures are intact and complete, the value of the banknote will be compensated in full.

b. If the bank note bears two signatures and one serial number, or one signature and two serial numbers, 75 percent of its value will be paid.

2. No compensation will be paid if it is not established that the note presented is a Saudi banknote, if less than 315 of the size of banknote is presented and if the two signatures or the two serial numbers are missing.

3. If a part of the banknote is burnt, instructions concerning torn or mutilated notes will be applied on the remaining part and it will be compensated for accordingly.

4. Doubtful cases should to be submitted to SAMA's Head Office for consideration and decision