Imbert: Banks notes valid till Dec 31; can be redeemed indefinitely

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    The Finance Minister is clarifying that the bank notes being called in are still valid until December 31st and can be redeemed indefinitely.

    Mr Colm Imbert’s comment on social media follows concerns by the public about the move to have citizens, from July 1st, bring in $1, $5, $10, $20 and $50 notes bearing series dates prior to 2020.

    Some persons have questioned the timing of the decision, highlighting the ongoing COVID-19 pandemic.

    However, Mr Imbert says, after the notes lose validity on December 31st, they can be redeemed indefinitely, either directly by the Central Bank or in arrangements with commercial banks.