Ryadh: The Kingdom of Saudi Arabia (KSA) officially launched a currency symbol for the riyal on Thursday, February 20, marking a historic step in strengthening the Kingdom’s national currency.
The move was announced by the Saudi Central Bank (SAMA) following official approval from King Salman bin Abdulaziz.
“This initiative aims to promote Saudi Arabia’s financial identity locally, regionally and internationally. It reinforces national identity and cultural belonging, highlights the role of the national currency and showcases the Kingdom among major global economies and G-20 members,” the bank said in a statement.
“The Saudi riyal symbol, developed to the highest technical standards, embodies the Kingdom’s rich cultural heritage. It carries the name of the national currency, ‘Riyal,’ in a design inspired by Arabic calligraphy.”
“The symbol will streamline the representation of the Saudi riyal in local, regional, and international contexts, making it suitable for use in all financial and commercial transactions,” the statement added.
Governor of the Saudi Central Bank (SAMA), Ayman Al-Sayari, expressed his profound appreciation to King Salman and Crown Prince and Prime Minister Mohammed bin Salman for their leadership in launching the symbol, the Saudi Press Agency (SPA) reported.
He emphasised that this decision will enhance Saudi Arabia’s financial identity on local, regional, and international levels.
The initiative was developed with input from key Saudi institutions, including the Ministry of Culture, the Ministry of Media, and the Saudi Standards, Metrology, and Quality Organization.
As Saudi Arabia advances its Vision 2030 agenda, the launch of the symbol underscores the importance of the Kingdom’s financial system and its growing role regionally and internationally.
