Latest news with #البنكالمركزيالسعودي
Arabian Business
25-02-2025
- Business
- Arabian Business
Saudi Arabia announces new rules for use of Riyal symbol
The Saudi Central Bank (SAMA) has unveiled eight new rules governing the use of the Saudi riyal (SAR) symbol, following official approval from the Custodian of the Two Holy Mosques King Salman bin Abdulaziz. According to SAMA guidelines, the symbol must be positioned to the left of numerical values with a space between them. The rules specify that the symbol must maintain proper proportions, align with the surrounding text direction, and contrast with background colours for visibility. SAMA releases eight rules for new Saudi Riyal symbol use The design incorporates elements of Arabic calligraphy, connecting to Saudi Arabia's cultural heritage. إطلاق #رمز_الريال_السعودي.. رمز لأصالتنا لاقتصادنا ولمستقبلنا #البنك_المركزي_السعودي — SAMA | البنك المركزي السعودي (@SAMA_GOV) February 20, 2025 The term 'Riyal' traces back to 1346 AH during King Abdulaziz's reign, marking the introduction of the Kingdom's unified currency. A royal committee comprising representatives from the Ministry of Culture, the Ministry of Media, and the Saudi Standards, Metrology, and Quality Organisation developed the symbol through multiple phases. The process involved ensuring national identity representation and technical compatibility with modern financial systems. The initiative forms part of Saudi Arabia's Vision 2030 strategy to establish the Kingdom as a global economic leader. Implementation of the symbol will begin immediately, with full integration across financial and commercial platforms occurring gradually. The new symbol represents an effort to enhance the currency's recognition while boosting confidence in the Saudi riyal domestically and internationally.
Gulf Business
24-02-2025
- Business
- Gulf Business
Saudi Arabia unveils new official Riyal symbol
Image: SAMA/ X Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, has approved a new symbol for the Saudi riyal, marking a historic step in enhancing the national currency's identity. The move is expected to reinforce the kingdom's economic presence both locally and globally. Developed to the highest technical standards, the new riyal symbol is deeply inspired by Arabic calligraphy and reflects the kingdom's rich cultural heritage The symbol carries the name of our national currency and reflects our cultural identity. Learn about the significance of the — SAMA | البنك المركزي السعودي (@SAMA_GOV) The Riyal symbol reflects modernity and tradition The design prominently incorporates the name of the national currency, Riyal, signifying both the modernity and tradition of Saudi Arabia. According to the Saudi Press Agency, the new symbol will be used in all financial and commercial transactions, both domestically and internationally. This streamlined representation aims to simplify the way the Saudi riyal is referenced in various economic contexts, further promoting the kingdom's global financial standing. The introduction of the symbol is expected to play a significant role in Saudi Arabia's continued economic diversification efforts as part of the Vision 2030 initiative. The Learn about the usage rules for the — SAMA | البنك المركزي السعودي (@SAMA_GOV)
Al Bawaba
22-02-2025
- Business
- Al Bawaba
Saudi Arabia launches its first currency symbol
Published February 22nd, 2025 - 07:31 GMT — SAMA | البنك المركزي السعودي (@SAMA_GOV) February 21, 2025 The new symbol is designed using Arabic calligraphy of the word Riyal and reflects the country's heritage and history. According to the Saudi Central Bank (SAMA), the symbol will be introduced into financial and commercial transactions is worth noting that the Saudi Riyal, the official currency used in Saudi Arabia, was linked to the US dollar since 1986, with an exchange rate now of approximately 3.75 riyals per $ new significant release comes under the country's Vision 2030, a government program launched by Saudi Arabia which aims to achieve the goal of increased diversification economically, socially, and culturally, in line with the vision of Saudi Crown Prince and Prime Minister Mohammed bin Crown Prince Mohammed bin Salman has been working intensively to boost the country's economy, elevating various sectors such as sports, tourism, and technology. The new currency symbol will help establish a solid economic foundation for trade both locally and globally, positioning Saudi Arabia as an attractive hub for thriving businesses and investments from around the world. Also Read Saudi Arabia Issues New 5 Riyal Polymer Banknote © 2000 - 2025 Al Bawaba (
FACT
21-02-2025
- Business
- FACT
Saudi Arabia banks on Riyal with a new symbol
Saudi Arabia has been making waves globally, cementing itself as a powerhouse in tourism, entertainment and business. From hosting major sports events to futuristic projects like NEOM, the Kingdom is on a roll. While it seems to have everything covered, Saudi Arabia has now made a surprising yet significant move, introducing an official symbol for its currency, the Saudi Riyal. For years, the Saudi Riyal was represented by abbreviations like SAR or SR, or the Arabic symbol ر.س. But now, the Kingdom has unveiled the official currency symbol, which is also the first for any country in the Middle East. This move aligns Saudi Arabia with global financial leaders that have long had their own currency symbols, such as the British pound, the Euro, and the US dollar. The newly designed symbol of the Saudi Riyal blends Arabic calligraphy with the name of the national currency. This ensures that the symbol represents monetary transactions and pays homage to the Kingdom's culture. The symbol was approved by King Salman bin Abdulaziz. By giving the currency its own identity, the Kingdom aims to strengthen its national financial presence and boost confidence in the riyal on both local and international fronts. The #SaudiRiyalSymbol.. A new chapter in the evolution of our national — SAMA | البنك المركزي السعودي (@SAMA_GOV) February 20, 2025 With the official rollout already in progress, expect to see the Saudi Riyal symbol making its way into banking systems, financial reports, currency exchange platforms, and even daily transactions. Details of when it will officially make it to our keyboards are still under wraps, but once introduced, this will be a game-changer. Could other Middle Eastern countries follow? Only time will tell. But until then, know that the Saudi Riyal symbol is more than just a sign, it's a statement. GO: Visit for more information.
