RIYADH: Custodian of the Two Holy Mosques King Salman received the first number of all categories of the new banknotes and coins here at Al-Yamamah Palace on Monday.
The new series of the currency, which marks the era of King Salman, was delivered to the king by Finance Minister Mohammed Al-Jadaan, Saudi Arabian Monetary Authority (SAMA) Gov. Ahmed Alkholifey and SAMA Deputy Gov. Abdulaziz Al-Freih.
SAMA will officially launch the sixth issue of the banknotes and coins of the Saudi riyal on Tuesday, bearing the motto “Confidence and Security,” to mark the successful era of King Salman.
“SAMA is pleased to announce that it will reveal the designs of the sixth issue of national banknotes and coins for the era of King Salman on Tuesday,” said a SAMA statement on Monday.
Crown Prince Mohammed bin Naif received the second set of all categories of the sixth issue and a copy of all categories of coins. They were delivered by the same team led by Al-Jadaan.
Deputy Crown Prince Mohammed bin Salman received the third set of all categories of the sixth issue and a copy of all categories of coins.
The new currency will be launched for the public at a ceremony on Tuesday. The new banknotes will be more secure to reduce forgeries. The issuance of the new bills and coins is important as they carry the strongest security.
Syed Ahmed Ziauddin, a senior banker, who heads the financial institutions and public sector group at Bank Al-Jazirah, told Arab News: “It is very good news; we need new currency notes and coins to mark the era of the new king. This is a cash-based society.”
Ibrahim Al-Qayid, a Saudi businessman, welcomed the move, saying he is “happy to know that SAMA will soon put in circulation new bank notes with enlarged identification features.”
Al-Qayid, however, said he has no idea about the size, color, front or rear of the new bills. “I will be more than happy to see the photo of the king on the new currency —banknotes as well as on coins,” said Al-Qayid.
He said his elders still recall the interesting history and the evolution of Saudi currency.
The first Saudi currency, bearing the new name of the country, appeared in 1935, when the silver riyal, the half riyal and the quarter riyal, were put in circulation. Some of these old currencies are today preserved in SAMA’s museum.
New currency marks King Salman’s era
New currency marks King Salman’s era
Saudi, Pakistan defense chiefs discuss ‘measures needed to halt’ Iranian attacks on Kingdom
RIYADH: Saudi Defense Minister Prince Khalid bin Salman and Pakistan’s Chief of Defense Forces Asim Munir discussed Iran’s attacks on the Kingdom, amid the escalating military conflict in the Middle East.
“We discussed Iranian attacks on the Kingdom and the measures needed to halt them within the framework of our Joint Strategic Defense Agreement,” Prince Khalid wrote on social media early on Saturday.
“We stressed that such actions undermine regional security and stability and expressed hope that the Iranian side will exercise wisdom and avoid miscalculation.”
The US and Israel began a large-scale military campaign against Iran on Feb. 28. Iran has since attacked a number of sites across the Gulf.
Tehran has also attacked US and Israeli military assets as the war as escalated, impacting lives in the peaceful Arabian Gulf peninsula and risked shaking the global economy as Iran continued restricting energy shipping along the Strait of Hormuz.
The Saudi Defense Ministry said a number of drones had been shot down that were targeting the Shayba oil field in the Empty Quarter on Saturday.
A drone attacked the US embassy in Riyadh on Tuesday causing a minor fire, but no one was hurt in the incident.
Saudi Arabia and Pakistan signed a “Strategic Mutual Defense Agreement” in September, pledging that aggression against one country would be treated as an attack on both.
Separately, Prince Abdulaziz bin Saud bin Naif, the Saudi interior minister, received a call from his Pakistani counterpart Raza Naqvi, who condemned the blatant attacks targeting the Kingdom and affirmed his country’s solidarity in confronting any threats to the Kingdom’s security and stability, the Saudi Press Agency reported on Saturday.
