Currency - Qatar - 10 Riyals - Year 2003

Item Code: 172/qa-1

Year	2003
Obverse	Ornated column; arches; sailboats; palm trees; crossed swords
Reverse	Traditional Dhow and sand dunes Khor Al-Udeid at left
Size	146 x 69 mm
Watermark	Falcon's head

Obverse description

Qatar Central Bank

The Qatar Central Bank (Arabic: مصرف قطر المركزي‎‎) is the central bank of Qatar. The Qatar Central Bank was originally the Qatar Monetary Agency (and was known before that as Qatar Dubai Currency Board), founded on May 13, 1973 after Dubai joined the United Arab Emirates and disengaged itself from British monetary policy which the area had previously followed. The Qatar Monetary Agency assumed the duties of a central bank. In 1973, Amiri Decree No. 24 authorized the issuance of the Qatari Riyal (QR). Over its history the Qatar Central Bank has increasingly worked in association with other, larger central banks to achieve a stable currency for the country, most recently and notably with the Monetary Authority of Singapore.

Objectives: Article no. 5 of the Law of the Qatar Central Bank and the Regulation of financial Institutions issued by Law no. 13 of 2012 states the central bank’s objectives for Qatar’s economic policy.

1.    Preserve money value and assure monetary stability.

2.    Act as a regulatory, control and supervisory higher authority for all the services, business, markets and financial activities inside or though the state of Qatar in accordance with the best international standards and practices.

3.    Establish a stable, transparent, competitive and governance sector for carrying out services, business, markets and financial activities based on market rules.

4.    Reinforce public confidence in Qatar as a pioneering global hub for services, business, markets and financial activities.

5.    Ensure consistent development of services, markets and financial activities sector in line with the objectives of economic and comprehensive development in Qatar.....

In addition, the Qatar Central Bank serves the primary roles of many central banks. These roles are stated in Article no. 6, 7, and 8 of Law no. 13 and include (among others) the following duties:

1.    Stability of QR exchange rate and its capacity of being exchanged for other currencies.

2.    Cash issuance and regulation of its circulation.

3.    Act as a bank for all the banks and financial institutions in Qatar.

4.    Financial and Banking stability.

5.    Administer and invest its money and reserves.

6.   Lay out regulations, instructions and guidance on governance, transparency and sound management in all financial institutions under QCB’s supervision.

Reverse description

Khawr al Udayd

The beach in Khawr al Udayd.

Khawr al Udayd is a settlement and inlet of the Persian Gulf located in Al Wakrah Municipality in southeast Qatar, on the border with Saudi Arabia. It is known to local English speakers as the "Inland Sea".

History: Khawr al Udayd had served as a refuge for pirates from Abu Dhabi during the 19th century. Members of the Bani Yas tribe migrated and settled in the area on two separate occasions: 1835 and 1849. One of the more notable settlers in 1835 was the pirate Jasim bin Jabir, who was joined there by his crew. The residents of eastern Qatar abetted the pirates of Khawr al Udayd in their pillaging of vessels off the coast of Abu Dhabi, resulting in a British naval force being sent to the settlement in 1836 to accost the piratical acts. The British ordered the chiefs of major Qatari towns to immediately desist from sending supplies to the pirates and instructed them to seize the pirate's boats. Additionally, the British naval force set fire to one of the pirate's vessels. As a result, Jassim bin Jabir relocated to Doha in September 1836. After receiving approval from the British in May 1837, the ruler of Abu Dhabi sent his troops to sack the town; 50 of its inhabitants were killed and its houses and fortifications were dismantled during the event.

In the mid-1800s, the settlement at Khawr al Udayd was inhabited by approximately 200 Bani Yas tribesmen who owned a total 30 pearling ships. The area was well protected, containing a small fort with two towers in the center of the town. In 1878, the British and the Abu Dhabi government concocted a plan to invade Khawr al Udayd in order to curtail the piracy of its inhabitants. In response, Jassim bin Mohammed Al Thani threatened to occupy Khawr al Udayd, as he had perceived the proposed military excursion to be in violation of Qatar's territorial integrity. This culminated in an all-out war between Abu Dhabi and Qatar which lasted until the late 1880s.

Khawr al Udayd Sand Dunes

Sand Dunes in Khor Al-Adaid

Khawr al Udayd was nominated in UNESCO’s World Heritage sites, and this uninhabited natural reserve is worth the visit. Here are some of the million reasons:

A Natural Marvel: The Inland Sea is often confused as a lake or a sea because it is nearly enclosed in silvery crescents of sand. It is rather a large creek or a tidal embayment.

Its beauty is more than what meets the eye because of its biodiversity. It has a diverse terrestrial flora and fauna with varied and sensitive marine life. Aside from that, its unique water quality and bottom substrates are said to be the perfect habitats for some of the worlds’ most endangered marine species.

A Cultural Wonder: Although at present it is uninhabited, the country’s history proves that it was able to witness a great civilization from the past. Several archeological sites and heritage sites in the area suggest that the rocky desert of Al-Udayd was a fitting landscape for the Bedouins especially in grazing their stock. Since it is also a vast plain near the sea, it has been revealed that traditional farming and fishing existed in the area. But, because of today’s modernity, these cultural and historical remnants can no longer be seen.

A Place for Adventure: Just because Al-Udayd is picturesque, it doesn’t mean it is limited inside the frames of the photographs. Qatar’s push for a flourishing tourism has put the Inland Sea under the spotlight especially now that the place offers several outdoor activities. During daytime, the natural shape of the dunes is perfect for sand skiing, quad biking and 4WD racing. Camping under the daylight can also be enjoyed with tranquility, and without being disturbed by the racing activities since the area is big enough to accommodate every tourist’s choice of fun.

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