Sunday, August 9, 2015

Design of Saudi Currency Notes and Coins to be changed!

The Kingdom of Saudi Arabia is one of the most prosperous nations in the world. The wealth, predominantly due to the unthinkable amounts of oil reserves that the country has been blessed with. Over time due to changes within the Kingdom, such as change of Kings and the renovations of the Holy Mosques, certain other changes have become necessary as well. In every country around the world, history and certain events have caused a changed in the face of the currency; some nations developed a new currency upon independence while some changed it to honor their leaders. Similarly the Kingdom of Saudi Arabia has also decided to bring a change in the face and design of the currency.

The Custodian of the Two Holy Mosques, King Salman recently was briefed on the subject of the new designs for the Saudi currency notes and also the second issue of Saudi coins. Dr. Ibrahim Al Assaf, who is the Minister of Finance, Fahd Al Mubarak, the Governor of the Saudi Arabian Monetary Authority or SAMA, and the deputy Governor Abdulaziz Al Firaih collectively held a meeting with His Highness King Salman and duly informed the King of the changes that need to be made to the design of currency notes. They informed the King that the new currency notes as well as the second issue of the coins have images of the new expansion projects of the Two Holy Mosques, important Saudi Antiquities and some landmarks of the Saudi Renaissance.

The latest series of the currency will have the most advanced and up to date security features which help in the prevention of counterfeit currency production and other activities of the nature. In the year 2007, the Saudi Arabian Monetary Authority or SAMA, announced the inclusion of a new note design and coin in the currency. The announcement was made that on the fifth domination of the SAR, pictures of the Late King Abdullah had been featured on all of the notes except for the SAR500 note which would feature the Founder of the Kingdom and the Late King Abdulaziz Al Saud.

The SAR 50 and SAR 100 notes had been subsequently released on the 21st of May in 2007. The SAR 5 and SAR 10 soon followed in June of the same year. The SAR 500 note followed suit in September of 2007 and last and literally the least the SAR 1 note was completed just before the New Year in December of 2007.

The Kingdom of Saudi Arabia is a beautiful land, which has been decorated ever more so beautifully by its people and rulers alike. The land is filled with immense beauty and art which adds to the landscape. Understanding that the Saudi people, royalty and non royalty alike are fond of beautiful exotic things, it is understandable and quite logical that the new currency design be made in such a way.  The new currency design seems to aim at the preservation of Saudi culture, heritage and history.

Source: Saudi Gazette

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