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500 Riyals

Issuer Qatar Central Bank
Year 2003
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Value 500 Riyals
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Obverse lettering مصرف قطر المركزي
خمسمائة ريال
وزير المالية
المحافظ
Reverse description Blue and multicolour composition centred on a large intaglio vignette of a peregrine falcon's head in right profile, set against a background view of the Qatar Central Bank building and Al-Wajbah fort amid palm trees. The English inscription "Qatar Central Bank" appears across the top, with the denomination numerals 500 at upper right and lower left, and the legend "Five Hundred Riyals" in English at lower right; an arabesque guilloche border frames the right margin.
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Qatar's 2003 banknote series was the first issued under the Qatar Central Bank following its formal separation from the Qatar Monetary Agency, which had managed currency since 1973. The 500 Riyal was the highest denomination in that series — a denomination that, at contemporary exchange rates, represented a substantial sum even by Gulf standards, and one not intended for routine retail circulation.

Thomas De La Rue's production for Gulf states during this period was consistent but unflashy by the firm's own standards. The security specification here — watermark and thread only — is notably light for a high-value note from this decade, when many comparable issues were already incorporating color-shifting ink or holographic strips.