The Kingdom’s currencies: A history of the Saudi riyal

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The newly issued SR5 polymer banknote makes use of metameric inks which makes two colors appear similar under one set of lighting, but different in other light conditions. (SPA)
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Updated 08 October 2020
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The Kingdom’s currencies: A history of the Saudi riyal

  • Saudi Arabia’s unique identity brought forward with issuance and maintenance of its own national currency

RIYADH: Saudi Arabia’s newly issued SR5 ($1.33) polymer banknote is the latest release of its kind during King Salman’s reign. The note features a major security change, but dons the same image of the Saudi ruler, just as it has for almost every leader in the Kingdom’s history.

The new banknote is the sixth revision in the past five years. The only change is the use of a synthetic polymer that adds security features incompatible with paper banknotes, such as the use of metameric inks. The inks use the principle of metamerism to make two colors appear similar under one set of lighting, but different in other light conditions.

Historically, the riyal, a currency used in the Middle East before the establishment of the Kingdom, was commonly used and traded in the region. While the founding father of the Kingdom began unifying the country that we know today, various foreign gold, silver and bronze currencies were used alongside one another.

According to the Saudi Arabian Monetary Authority (SAMA), King Abdul Aziz made efforts to bring forth the Kingdom’s unique identity partly through the issuance and maintenance of its own national currency. This led to the creation of the Saudi riyal, both in coin and paper banknote form.

The King Abdul Aziz Public Library in Riyadh possesses a collection of rare coins and currencies that are a historical testament to the stages of the Saudi state’s formation, transformation and development.

“Saudi Arabia is the only country in the Middle East that is independent and has not been subject to any pressure, colonization or occupation by foreign powers over its long history of 300 years,” the general supervisor of the King Abdul Aziz Library in Riyadh, Dr. Abdul Karim Al-Zaid, told Arab News.

Al-Zaid said that after King Abdul Aziz united the country in 1902, he was keen to make a sovereign decision regarding the new state’s currency. King Abdul Aziz viewed the economy as the main engine of a state that wanted to build modern foundations, Al-Zaid added.

Before anything resembling a monetary system was devised, the Indian rupee and a version of Britain’s golden pound coin were commonly used throughout the Gulf and Al-Ahsa, and as far inland as the Najd region.

Otherwise, Ottoman silver coins and “thaler” coins with images of Austria’s de facto empress, Maria Theresa (dubbed the “French riyal,”) were used before 1926.

Al-Zaid said that there was also a local currency in use during that time in the eastern province of Al-Ahsa called the “Tawilah” (Arabic for long) coin, which was made of copper, silver and gold. “The ‘Tawilah’ was used in the Gulf regions and sometimes in Riyadh and other nearby areas,” he added.

During the country’s initial monetary chaos, King Abdul Aziz strived to find solutions that would help control the situation and limit the diversity of currencies used in the region. The founding father’s first practical step was to stamp popular coins, such as “French riyals,” with the words “Najd” and “Hijaz.”

Al-Zaid said: “This stamp or seal meant that the currency belonged to Saudi Arabia, and traders wouldn’t accept, for example, ‘French riyals’ that were not stamped.”

In the years after, the Kingdom’s economy grew dramatically, especially when oil was discovered in 1938. Therefore, King Abdul Aziz gave orders to mint a Saudi currency bearing his name and the Kingdom began issuing coins of silver called Saudi riyals, which consisted of halves and quarters.

“After 1938, this currency began to gradually replace the existing currencies,” said Al-Zaid.

As no central monetary authority existed to organize and regulate the state currency, coins were minted abroad and delivered to the country in batches. The silver Saudi riyals were minted in the US.

FASTFACT

On Saudi National Day 1999, the centenary of the founding of Saudi Arabia, two new denominations represented by 200 and 20 Saudi riyal banknotes were issued. The 200 riyal banknote featured the portrait of King Abdul Aziz Al-Saud and a view of the Al-Masmak Palace, while the 20 riyal banknote bore the picture of Al-Noor mountain in Makkah and another portrait of the former ruler.

The Saudi Arabia Monetary Authority said that in 1952, following great turmoil in the Kingdom’s exchange and payment systems, King Abdul Aziz agreed to bring in a US financial mission chaired by economic adviser Arthur Young.

The delegation advised the state on its budget and monetary system. Following the successful advisory mission, two royal decrees were issued to establish the Saudi Arabia Monetary Authority in 1952, making it the second-oldest central bank in the Arab world.

All that has been achieved since then in the Kingdom can be partly attributed to the ambition and vision of King Abdul Aziz.

With the further development of the Kingdom and the growing presence of pilgrims in Makkah and Madinah, King Abdul Aziz realized the difficulty worshippers faced when having to carry heavy coins. He therefore ordered the production of the Kingdom’s first paper currency in 1953.

The newly issued notes were referred to by SAMA as the “Pilgrims’ Receipt,” and included 10, five and one riyal banknotes. Coins soon fell out of fashion, and King Abdul Aziz’s decision proved beneficial for pilgrims and the Saudi public alike.

In its first edition, the banknotes contained multiple phrases in Arabic, Persian, English, Urdu, Turkish and Malay, and bore the Kingdom’s emblem with the following words on its right side: “This receipt was issued by the Monetary Authority to facilitate pilgrimage for its bearer, and to make the Arabian riyals at his disposal, easily and quickly, during his stay in the country without paying the costs of exchange.”

It also contained a guarantee, which read: “We certify that the Authority holds in its vaults in Jeddah the sum of 10 Arab Riyals at the disposal of the bearer of this receipt. It is fully negotiable, and its value will immediately be paid upon presentation to any center of the Authority.”

Though the “Pilgrims’ Receipt” circulation was later halted in 1965, Al-Zaid said the Kingdom’s economic affairs soon flourished and Saudi currencies began a tradition of revisal, which continued throughout the reign of King Saud to this day.

Six new revisions have been issued in the past six decades, each banknote bearing the portrait of past rulers. They have also featured views of the Grand Mosque in Makkah, the Prophet’s Mosque, the Mosque of the Dome of the Rock in Jerusalem, an Umayyad Dinar, the Kingdom’s natural scenery, oil rigs and other unique Saudi themes.


King Abdulaziz Foundation launches Darah Documents initiative for greater accessibility to records

Updated 9 sec ago
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King Abdulaziz Foundation launches Darah Documents initiative for greater accessibility to records

  • Initiative seeks to connect new generations with their heritage and enhance the role of historic documents as primary sources for helping to understand the Kingdom’s past
  • Darah Documents features a digital system that supports browsing and advanced search capabilities

RIYADH: The King Abdulaziz Foundation for Research and Archives has unveiled the Darah Documents initiative, a project designed to broaden public access to Saudi Arabia’s historic records and deepen national awareness of their significance.

The initiative, which was launched on Monday, seeks to connect new generations with their heritage and enhance the role of historic documents as primary sources for helping to understand the Kingdom’s past.

At the heart of the initiative is a digital portal and beneficiary services center, which together offer researchers, historians and interested individuals streamlined access to a diverse range of archival materials.

These collections span local and foreign documents, manuscripts, photographs, oral histories and more, covering topics from politics and the economy to society, culture and education.

Darah Documents features a digital system that supports browsing and advanced search capabilities. Users can request documents electronically or explore them directly at the beneficiary services center.

The platform also provides descriptive information and translations for non-Arabic content, making the archives more accessible to a broader audience.

As a nationally recognized authority on historic preservation, the foundation is committed to collecting, organizing, cataloging and digitizing documents according to rigorous scientific and archival standards.

This phased initiative includes ongoing indexing and the release of high-value historic records, ensuring their preservation and optimal use for research and cultural enrichment.

Aligned with Saudi Vision 2030, Darah Documents reinforces national identity and supports the Kingdom’s digital and knowledge transformation by making historic content more widely available.


First graduates complete KSGAAL’s linguistic proofreading course

Updated 19 min 11 sec ago
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First graduates complete KSGAAL’s linguistic proofreading course

  • Abdullah Al-Washmi said the program reflected the academy’s commitment to empowering the Arabic language within government institutions
  • One-year program is open to professionals working in editing and proofreading roles within government agencies

RIYADH: The first cohort of the Higher Diploma in Linguistic Proofreading program at the King Salman Global Academy for Arabic Language celebrated their graduation on Tuesday.

The ceremony was held at the academy’s headquarters in Riyadh and attended by prominent academics, students and trainers.

Abdullah Al-Washmi, the academy's secretary-general, said the program reflected the academy’s commitment to empowering the Arabic language within government institutions.

He added the program was a pioneering model in supporting the professional development of Arabic language specialists.

The one-year program is open to professionals working in editing and proofreading roles within government agencies and is accredited by the Ministry of Human Resources and Social Development.

The training pathway designed by the academy focuses on preparing specialized national linguistic teams.

Its methodology integrates theoretical and practical aspects to meet the needs of government sectors and enhance the efficiency of Arabic language usage.

Tuesday’s ceremony saw 60 graduates honored for completing the program, which includes 435 training hours delivered by 16 trainers.


Saudi Arabia’s Uruq Bani Ma’arid gains spot on global conservation list

Updated 57 min ago
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Saudi Arabia’s Uruq Bani Ma’arid gains spot on global conservation list

  • UNESCO World Heritage Site praised for ecological restoration, biodiversity efforts
  • Uruq Bani Ma’arid has implemented a breeding and reintroduction program for the endangered Arabian oryx

RIYADH: Uruq Bani Ma’arid, one of Saudi Arabia’s most ecologically significant protected areas and a UNESCO World Heritage Site, has been admitted to the International Union for Conservation of Nature’s Green List of Protected and Conserved Areas.

The recognition confirms the site’s global ecological importance and highlights the Kingdom’s growing leadership in conserving arid-land habitats, the Saudi Press Agency reported on Tuesday.

Saudi Arabia’s inclusion of Uruq Bani Ma’arid follows earlier Green List achievements, notably the Ibex Protected Area and the King Salman bin Abdulaziz Royal Reserve.

These milestones reflect sustained progress toward excellence in protected-area management, according to the SPA report.

Uruq Bani Ma’arid covers 12,765 sq. km at the western edge of the Empty Quarter — the world’s largest continuous sand desert — and harbors the greatest biodiversity in the region. In 2023, it was inscribed as a UNESCO World Heritage Site for its outstanding natural value.

The union’s Green List sets the global benchmark for effective and equitable protected-area management. To qualify, sites must demonstrate transparent governance, measurable conservation outcomes and meaningful engagement with local stakeholders.

Uruq Bani Ma’arid met the criteria through integrated planning, resilient ecological monitoring and habitat restoration programs, the SPA reported.

Under the stewardship of the National Center for Wildlife, Uruq Bani Ma’arid has implemented a breeding and reintroduction program for the endangered Arabian oryx.

Mohammad Qurban, CEO of the National Center for Wildlife, said: “Uruq Bani Ma’arid exemplifies what science-guided conservation can achieve in extreme landscapes. Its inclusion on the IUCN Green List reflects our dedication to protecting biodiversity and delivering real conservation impact at both national and global levels.”

He added that the milestone supports Saudi Arabia’s contribution to the global 30x30 biodiversity target — protecting 30 percent of terrestrial and marine areas by 2030 — and aligns with the Saudi Green Initiative, a core pillar of Vision 2030.


Islamic coalition launches training program in Comoros

Updated 24 June 2025
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Islamic coalition launches training program in Comoros

  • Organized by the Islamic Military Counter Terrorism Coalition, the initiative is part of the organization’s broader intellectual strategy
  • Comoros Defense Minister Youssoufa Mohamed Ali reaffirmed his country’s commitment to the coalition in combating extremism and eradicating terrorism

RIYADH: A new training program, “Building the Capacity of Imams and Preachers,” has been launched in Moroni, Comoros, the Saudi Press Agency reported on Tuesday.

Organized by the Islamic Military Counter Terrorism Coalition, the initiative is part of the organization’s broader intellectual strategy.

Comoros Defense Minister Youssoufa Mohamed Ali reaffirmed his country’s commitment to the coalition in combating extremism and eradicating terrorism.

He highlighted the coalition’s key role, particularly its focus on intellectual engagement, and said the program’s launch was a significant step forward.

Maj. Gen. Mohammed Al-Moghedi, the coalition’s secretary-general from Saudi Arabia, said the initiative was part of a wider effort involving 15 strategic programs across four areas — intellectual development, media, counter-terrorism financing and military operations.

Recently, the coalition held specialized training on combating terrorist financing in Bamako, Mali. The program aimed to strengthen national capacity to counter terrorist financing and money laundering.


MWL chief, UK speaker hold talks on social unity, countering hate speech

MWL Secretary-General Dr. Mohammed bin Abdulkarim Al-Issa meets with UK House of Commons Speaker Sir Lindsay Hoyle in London.
Updated 24 June 2025
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MWL chief, UK speaker hold talks on social unity, countering hate speech

  • Two officials highlighted importance of combating hate speech, discrimination and exclusion — especially when stemming from influential legal or institutional sources

LONDON: Secretary-General of the Muslim World League and Chairman of the Organization of Muslim Scholars Dr. Mohammed bin Abdulkarim Al-Issa met UK House of Commons Speaker Sir Lindsay Hoyle in London.

They discussed the foundations of social cohesion in religiously and ethnically diverse societies, highlighting mutual respect and the need for legislation that protects national unity, the Saudi Press Agency reported on Tuesday.

The two officials highlighted the importance of combating hate speech, discrimination and exclusion — especially when stemming from influential legal or institutional sources.

Al-Issa said that the vast majority of Muslims in Britain show strong religious and national awareness. He added that discordant voices are isolated cases that reflect individual views, not the values of Islam.

Separately, the UK parliament hosted Al-Issa for a side meeting at its London headquarters, organized by several members of parliament and attended by the speaker.

Talks focused on enhancing integration and harmony in British society, fighting extremism and hatred, and showcasing the league’s efforts to build bridges between civilizations and promote mutual understanding.