MUSCAT: The Central Bank of Oman has signed an agreement to implement a project for recycling damaged banknotes with the Dar Al-Harfiya Corporation, which is specialised in investing, producing and developing Omani handicraft products.

The agreement was signed by His Excellency Tahir Salim Al Amri, Executive President, Central Bank of Oman, and Zuwaina bint Sultan Al Rashidiya, CEO of Dar Al Harfiya.

This project is the first of its kind in the Sultanate of Oman, as it aims to recycle damaged banknotes in a way that highlights the Omani culture and heritage through unique and diverse designs for the local and external consumer, as well as preserving the safety of the environment, combating pollution and environmental balance, which are among the goals of sustainable development in the Sultanate.

The idea of the project came from employee Mohammed Al Riyami through an out-of-the-box initiative launched by the Central Bank of Oman in 2019 to support the ideas of its creative employees, as this idea won first place in this initiative.