I've heard that not so long ago, a mafia syndicate in Bahrain counterfeited cash, as a result the whole.......

Question

currency had to be redesigned, and the old design was no longer in value...

anyone heared of such an event???

Answer 1

The last time that Bahrain issued an entire new series of banknotes was in 1998 (same basic design as previous, with added hologram on 5,10,and 20 Dinar notes). This may have been in response to a so-called 'unauthorized' second printing of
the previous type 20 Dinar notes. These second printing notes have a wider spacing between the letters in the serial number and are frequently seen on eBay. the previous series was demonetized a short time after the new notes entered circulation and could not be found in commerce at all by February 1999.

According to MRI Banker's Guide to Foreign Currency, only 1/4 dinar bills are worthless. The Central Bank of Bahrain has ceased to redeem the old "Bahrain Monetary Authority" notes of 1/4 dinar. All older notes of 1/2 dinar and up are still redeemable, except those of 20 dinars of the so-called "second printing."