KUALA LUMPUR, Feb 21 (Bernama) -- The Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, has approved the Saudi riyal symbol, a historic move that will reinforce the Saudi currency's identity.
The Governor of the Saudi Central Bank (SAMA), Ayman M. Al-Sayari noted that the implementation of the new symbol will be gradual for financial and commercial transactions, with coordination across all relevant entities.
The Governor emphasised that the decision reinforces Saudi Arabia’s financial identity, locally, regionally, and internationally.
“This initiative aims to promote national identity and cultural belonging, highlight the role of the national currency, and showcase the Kingdom among major global economies and G20 members.
In addition, the initiative signifies the increasingly important role of the national currency in the global financial ecosystem,” he said in a statement.
Developed to the highest technical standards, the Saudi riyal symbol embodies the Kingdom’s rich cultural heritage, carrying the name of the national currency “Riyal” in a design derived from Arabic calligraphy.
The symbol will streamline the representation of the Saudi riyal in local, regional, and international contexts, making it suitable for use in referring to the Saudi riyal in all financial and commercial transactions.
The Governor also acknowledged the joint efforts that have facilitated this achievement, extending his appreciation to all contributing entities involved in the symbol’s development project led by SAMA, 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 solidifies the importance of the Kingdom’s financial system and its increasing role regionally and internationally.
-- BERNAMA
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