New method introduced to detect counterfeit banknotes

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KUWAIT CITY, Dec 29: The Central Bank of Kuwait has introduced a new method for the discovery of counterfeit banknotes by setting up a unified mechanism for local banks in the event that a forged banknote is detected, reports Al- Rai daily quoting sources. Sources said the regulatory update, which will be implemented on Jan 1, will ensure the detection of counterfeit banknotes through a memorandum proving the deposit or presentation of counterfeit banknotes.