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CBO signs pact to recycle waste banknotes

2 Feb 2022 cbo signs pact

Muscat – The Central Bank of Oman (CBO) and the Handicrafts House – Dar al Herfya – signed an agreement for recycling waste banknotes on Wednesday.

A statement issued by CBO said ‘The Central Bank of Oman and the Handicrafts House – Dar Al Herfya signed an agreement to implement a project for recycling damaged banknotes, which is the first of its kind in the Sultanate of Oman.’

The agreement was signed by H E Tahir bin Salim al Amri, CBO’s executive president and Zuwaina Sultan al Rashdi, CEO of Dar al Herfya.

This project, the first of its kind in Oman, aims to recycle damaged banknotes in a way that highlights the Omani culture and heritage through unique and diverse designs for the local and foreign consumer, as well as preserving the environment and combating pollution. It also aims at maintaining a balance in the environment, which is in line with the goals of sustainable development in the sultanate.

Meanwhile, Mohammed al Riyami, an employee at CBO, is the creator of the project concept through the ‘Outside the Box’ initiative launched by the Central Bank of Oman in 2019.

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