The first issue was the result of the promulgation of the Kuwaiti Currency Law in accordance with the Amiri Decree No. (41) of 1960. This Law stipulated that the Kuwaiti Dinar shall be the national monetary unit and established the Kuwaiti Currency Board under the chairmanship of then Minister of Finance and Economy, Sheikh Jaber Al-Ahmad Al-Jaber Al-Sabah. Accordingly, on the first day of April 1961, the first issue was put into circulation, replacing the then circulating "Indian rupee". The first issue was withdrawn from circulation effective February 1, 1982 and ceased to be a legal tender on May 31, 1982. The right of exchanging these notes has expired on Saturday, February 1, 1992.