What's on a banknote?

The striking classic features of the Sultanate of Oman varying from nature, architecture, and heritage are found on the banknotes, Rials, of the Sultanate of Oman.

Author Abdulaziz bin Ali al Kharousi, in his book titled ‘Oman Banknotes (1970-2021)’ has featured interesting printed details on Omani Rials.

The book was launched by HH Sayyid Suhaib bin Fatek bin Fahr al Said.

Each note carries part of Oman’s history and heritage.

Since 11 years of age, Abdulaziz has been collecting banknotes, coins and ancient currencies. As he researched and learned from other senior collectors, his passion grew. Today, he is a proud owner of over 6,000 articles of currencies from different countries and eras — some dating back to BC and others from the pre-Islamic period. Abdulaziz has had over 60 exhibitions within Oman and abroad.

The book ‘Oman Banknotes (1970-2021)’ starts with the features of the banknotes such as the serial number, the fraction, replacement note, the watermark and phosphorescent filaments – the invisible capillary in a banknote unless exposed to ultraviolet radiation.

Chapter two of the book features the Sultans who issued banknotes. Sultan Said bin Taimour al Said ordered the printing of banknotes for the nation, and accordingly, the first banknotes were issued on May 7, 1970. During his reign, all foreign currencies were replaced with local currencies.

During the reign of late Sultan Qaboos, the Sultanate of Oman joined the International Monetary Fund.

Then new banknotes were issued to commemorate the first anniversary of His Majesty Sultan Haitham bin Tarik’s rule in 2021 with his pictures.

The book also highlights the history of the Sultanate of Oman’s currency, beginning with the Muscat Currency Authority established by Sultan Said bin Taimour in April 1970, giving the Authority to issue the national currency of Muscat, Oman at that time.

The Authority was under the supervision of Sultan Said bin Taimour and the then Secretary of Financial Affairs C G Belay. The Muscat Monetary Authority issued the first banknotes of Oman under the name of Saudi Rials, which carried the signature of the Secretary of Finance.

Oman Currency Board was established in November 1972 by a Royal Decree to replace the Muscat Monetary Authority, which also saw the replacement of the name to Omani Rials. Mahmood bin Mohammed al Balushi headed it. The Central Bank of Oman was established in 1974 by a Royal Decree replacing the Oman Currency Board, and HH Sayyid Tariq bin Taimour was the Deputy Chairman of the CBO Board of Governors. The first banknotes under the name of CBO were issued in 1976.

Chapter 4 of the book explains the signatures of people printed on the banknotes of the Sultanate of Oman.

The book has also featured a section on financial institutions where currencies get issued, banknotes printing companies, and symbols used and what they indicate.

Out of seven chapters, the sixth is divided into eight sections featuring forts and castles, handicrafts, crafts, Islamic architecture, places in the Sultanate of Oman, wildlife, modern renaissance symbols and national emblems.

The seventh chapter presents the banknotes and the six issues.

The author noted that the main material used in the manufacture was cotton, but nowadays, the governments use polymers.

@lakshmioman