Saudi Arabia launches new banknotes

The front and back sides of the new SR500 banknotes and the front side of the new coins released on Tuesday by the Saudi Arabia Monetary Authority (SAMA) are shown in this combination of still images taken from a video posted on YouTube by Kashif Nadeem.
Updated 14 December 2016
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Saudi Arabia launches new banknotes

RIYADH: New Saudi banknotes and coins to commemorate the era of Custodian of the Two Holy Mosques King Salman were officially launched here Tuesday 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.” 


Saudi crown prince to inaugurate energy park on Monday

The crown prince will inaugurate the 50-square-kilometer project on Monday. (Saudi Aramco)
Updated 09 December 2018
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Saudi crown prince to inaugurate energy park on Monday

  • SPARK is a mega project designed to position the Kingdom as a global energy hub

JEDDAH: Saudi Arabia’s Crown Prince Mohammed bin Salman is to launch a recently announced energy park in the east of the country.
The King Salman Energy Park, known as SPARK, is a mega project designed to position the Kingdom as a global energy hub.
The crown prince will inaugurate the 50-square-kilometer project on Monday, which will be constructed between Dammam and Al-Hasa in the heart of the Saudi energy business.
SPARK, which was announced by Saudi Aramco on Thursday and due to be completed in 2035, is expected to support and increase the security of energy supplies that will be offered at competitive prices.