Saudi Central Bank introduces new rules for use of the riyal symbol

25/02/2025 01:16 AST

The Saudi Central Bank (SAMA) has introduced eight new rules for how the Saudi riyal (SAR) symbol should be used, aiming to give the currency a strong identity both in the Kingdom and abroad.

This step comes after Custodian of the Two Holy Mosques King Salman bin Abdulaziz officially approved the symbol as part of Saudi Arabia's effort to enhance its financial and cultural presence.

The SAMA guidelines are designed to ensure consistency when the riyal symbol appears in various sectors. The symbol must always be placed to the left of the numerical value, with a space between them for clarity. It should maintain the right proportions and geometric structure, and its height should match the height of the text around it. The symbol also needs to align with the direction of the text, and a small free space must surround it for visual balance. Lastly, the color of the symbol should contrast enough with its background to ensure it stands out.

There is more to the symbol than rules about its appearance. The design draws heavily from Arabic calligraphy, reflecting Saudi Arabia's rich cultural heritage and national pride. The name "riyal" itself has historical significance - it dates back to the first issuance of Saudi currency in 1346 AH during the reign of King Abdulaziz, the founder of modern Saudi Arabia, which marked the beginning of the Kingdom's unified national currency.

By creating a unique symbol for the riyal, Saudi Arabia is not just making its currency easier to recognize but also is strengthening its credibility on the global financial stage. The new symbol represents a modern step toward streamlining financial transactions and boosting confidence in the Saudi riyal, both domestically and abroad.

The process behind developing the symbol was thorough. A royal directive set up a committee made up of representatives from SAMA, the Ministry of Culture, the Ministry of Media, and the Saudi Standards, Metrology, and Quality Organization. The project went through several phases: ensuring the symbol reflects Saudi national identity, technical evaluations to make sure it works in modern banking and financial systems, and finally, the official launch by King Salman.

This initiative also ties into Saudi Arabia's broader Vision 2030, aiming to make the Kingdom a leading global economic player. By introducing the symbol, Saudi Arabia is emphasizing the strength and stability of the Saudi riyal as the country grows its position in the international financial world.

The symbol will be rolled out across various platforms, from financial documents and reports to trading platforms and e-commerce sites. While it will be implemented immediately, its full integration into all financial and commercial systems will take place gradually.

The new Saudi riyal symbol is an important milestone in the Kingdom's ongoing evolution. With its cultural significance and clear guidelines, the symbol will help define the future of the Saudi currency, both within the nation and globally.

Saudi Gazette