Attempt to forge banknotes very limited – finance min

14 سبتمبر, 2014 06:52 ص

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KUWAIT CITY, Sept 13: Minister of Finance Anas Al- Saleh said the attempt to forge the sixth edition of the Kuwaiti dinar bills is very limited, stressing that there is no error in the words printed on the new banknotes, reports Al-Qabas daily.

The minister made the statement in response to the query of MP Dr Abdullah Al-Turaiji on the alleged forgery of the new banknotes. He affirmed the Central Bank of Kuwait (CBK) has taken all the technical and precautionary measures before issuing the new currency to avoid any problem and overcome obstacles. He said these measures were taken through multiple channels; including the press statements issued by the Central Bank and its governor, as well as the intensive media campaign to familiarize the public with the new banknotes. He added the local banks and other concerned authorities have also done their part through the strong coordination between the central banks around the world.

He disclosed the ministry and the Central Bank have coordinated with NCR and Diebold companies which are specialized in reformatting computer programs for 1,564 units that have been functioning efficiently from the date of issuing the new banknotes to the local market – June 29, 2014. On reformatting the systems to allow the deposit of new banknotes into machines, the minister confirmed all the concerned companies will finalize this procedure in the next few weeks.

He explained these companies have forwarded the new banknotes to the mother company abroad as an initial step to reformat the systems. Asked about the alleged attempts to forge the new banknotes, Al-Saleh admitted the concerned authorities have discovered a few attempts, as the percentage of forged banknotes is almost nothing compared to the total value of new notes pumped into the local market which reached 126 million notes valued at KD1,069 million as at date of responding to the query. He said it has been easy to uncover the forgery attempts because those behind the illegal act merely photocopied the notes using ordinary paper; thus, anyone can identify the forged notes. He added the ministry has informed the concerned authorities in its interior counterpart about the forgery and the personal data of suspects to take the necessary action against them.

He pointed out it is impossible to fully control the forgery attempts but making the public aware of such operations and familiarizing them with the features of the new banknotes are good steps towards limiting counterfeiting operations. He further stressed there are no typographical errors in the new banknotes, clarifying that the formation of some words is within the frame of aesthetical writings done by an experienced calligrapher specialized in Arabic calligraphy. He added drawings are also considered security signs on the banknotes.


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