Central Banking

JD1 coin to be replaced by new banknote in Jordan

JORDAN - The Central Bank of Jordan (CBJ) is expected to soon circulate new banknotes, to replace the current round JD1 coins, following numerous cases of counterfeit detected by security and financial authorities, a bank official said on Tuesday.
JORDAN - The Central Bank of Jordan (CBJ) is expected to soon circulate new banknotes, to replace the current round JD1 coins, following numerous cases of counterfeit detected by security and financial authorities, a bank official said on Tuesday.

The official, who asked not to be named, said the CBJ will withdraw the JD1 coins from the market once the new notes are printed and ready for circulation.

The new notes will have a different design and bear the signatures of Finance Minister Michel Marto and CBJ Governor Umayya Touqan, the CBJ official said.

"It is no secret that some of the coins in circulation are counterfeit... But we have discovered most of these attempts and instructed merchants and concerned people how to detect the forgeries," the official told The Jordan Times.

Security officials have repeatedly uncovered schemes to duplicate the JD1 coins, introduced in the past few years, mostly by non-Jordanian nationals.

These counterfeit coins triggered fear among merchants who started to refrain from accepting these coins as legal tender.

The CBJ recently intervened and reprinted old JD1 bank- notes which had withdrawn from the market. These will be used until the new notes are printed, the official said.

Currently banknotes in circulation are in denominations of JD50, JD20, JD10, and JD5, while coins in use are JD1, JD.5, JD0.250, in addition to 100, 50, 25 and 10 fils.

  • LinkedIn  
  • Save this article
  • Print this page  

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: