Libya removing 50-dinar note featuring Gaddafi's portrait

According to an article on dated 13 September 2011, banks in Libya are withdrawing 50-dinar (US$40.70) banknotes from circulation because they feature a large portrait of Muammar Gaddafi, who has recently been ousted from power but whose location remains uncertain. "The banks have agreed to collect the notes and to hand them over to the Central Bank," said Talal al Dhaguissi, an official in charge of a branch of Libya's National Commercial Bank in capital Tripoli, according to TAP. There’s no word on whether the Central Bank of Libya will destroy the withdrawn notes or overprint the portait and recirculate them eventually.

According to an article on Libya Business News dated 13 January 2012, citizens have until 15 March 2012 to turn in the old 50-dinar notes, and that the old 1- and 20-dinar notes, both of which also feature images of Gaddafi, will be gradually withdrawn.

Courtesy of Richard Miranda and Thomas Augustsson.