New Saudi currency will go into circulation on Dec. 26

Updated 15 December 2016
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New Saudi currency will go into circulation on Dec. 26

RIYADH: The Kingdom’s newly designed currency will go into circulation on Dec. 26 in denominations of SR500, SR100, SR50, SR10 and SR5 with coins of different values including SR2 and SR1.
The new bills commemorating the era of Custodian of the Two Holy Mosques King Salman represent the sixth issue of Saudi banknotes and coins, which were launched on Tuesday night.
“The new banknotes and coins will be officially circulated by the Saudi Arabian Monetary Authority (SAMA) alongside existing banknotes and coins,” said Ahmed Alkholifey, SAMA governor, while speaking on the occasion of the release of the new legal tender on Tuesday.
Alkholifey said the issuance of the currency represents a bright picture of the economic development realized in different periods of the nation’s history.
The new bills have machine-readable security features to ensure the safety and authenticity of the currency and to safeguard it from forgery.
Alkholifey said that coins will gradually replace paper-based riyals because coin-based riyals have added advantages. In fact, “the life span of coins is estimated between 20 and 25 years compared to 12 to 18 months for paper banknotes based on conditions of their circulation,” said the SAMA chief.
The coin of SR1 has a silver picture of King Salman. On top of the coin, the Hijri year (1438) is written, while in the bottom the Gregorian year 2016 is written. The third coin of 50 halalas have also its value written in English and Arabic. The coin of 25 halalas, like other coins, the title of the king — Custodian of the Two Holy Mosques — is written with Arabic and English pointers for values.
The 10 halala coin has the Kingdom’s emblem above, and the title of Custodian of the Two Mosques is written in Arabic like other coins.


King cites center's role in enhancing national cohesion and promoting culture of dialogue

Updated 18 min 38 sec ago
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King cites center's role in enhancing national cohesion and promoting culture of dialogue

  • The Riyadh-based King Abdul Aziz Center for National Dialogue was founded in 2003
  • It regularly organizes forums at the national level in different parts of the Kingdom

RIYADH: King Salman on Monday met Dr. Abdulaziz bin Mohammad Al-Sabeel, chairman of Board of Trustees of the King Abdul Aziz Center for National Dialogue, and other members of the board at Al-Yamamah Palace. 

The king laid emphasis on the importance of the center’s role in serving the society, enhancing national cohesion and in promoting the culture of dialogue. 

The Riyadh-based center was founded in 2003 with the aim of strengthening national unity. 

One of the main objectives of the center is to formulate a correct Islamic discourse based on moderation and moderation.

It is a national organization that aims to spread the culture of dialogue and establish it as a norm for general conduct on the levels of the individual citizen. 

The center also undertakes the study and discussion of issues of national importance, which effect the lives of Saudi citizens.

It regularly organizes forums at the national level in different parts of the Kingdom. The topics covered at these meetings range from unity to youth’s expectations.