Yes, there are digital banks in the Kingdom of Saudi Arabia . In June 2021, the Saudi Council of Ministers issued a resolution to approve the licensing of two local digital banks by converting the Saudi Digital Payments Company (stc Pay) into a local digital bank to conduct banking activities in the Kingdom, with a capital of SAR 2.5 billion (stc Bank). Additionally, an alliance of several companies and investors led by Abdulrahman Bin Saad al-Rashed and Sons Company established a local dig...

1959 The first banknote issuance of Saudi currency during the reign of King Saud Bin Abdulaziz Al Saud, with five denominations: SAR100, SAR50, SAR10, SAR5, and SAR1. 1968 The second issuance of Saudi currency during the reign of King Faisal Bin Abdulaziz Al Saud, with five denominations: SAR100, SAR50, SAR10, SAR5, and SAR1. 1976 The third issuance of Saudi currency during the reign of King Khalid Bin Abdulaziz Al Saud, with five denominations: SAR100, SAR50, SAR10, SAR5, and SAR1. 1984 The fo...