Saudi Arabia launches new Currency

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New Saudi banknotes and coins to commemorate the era of Custodian of the Two Holy Mosques King Salman were officially launched on 13th December 2016 night.

Livestreaming of the launch of the new currency by the Riyadh-based Saudi Arabian Monetary Authority (SAMA) marked the formal release of the sixth issue of Saudi legal tenders.

The new banknotes are identical in size to the old notes, so they will still work accurately with existing money sticks in the Saudi banks and financial institutions, as well as in ATMs.
However, they incorporate security print features that are less prone to forgery.

The sixth issue of banknotes and coins has been released under the motto: “Confidence and security.”

Ahmed Ziauddin, a senior executive of Bank Al-Jazirah, said: “The vibrant colors and improved quality will result in better and more accurate handling and less soiling on the new banknotes.” [ArabNews]

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