Timeline of the Development of the Saudi Central Bank

The Saudi Central Bank is the central bank of the government of the Kingdom of Saudi Arabia. It was established during the reign of the Founding King Abdulaziz Bin Abdulrahman Al Saud on March 30, 1952. It was initially named the Saudi Arabian Monetary Authority and retained that name until it was renamed the Saudi Central Bank by the approval of the Custodian of the Two Holy Mosques, King Salman Bin Abdulaziz Al Saud, on November 24, 2020.

The first Saudi currency system was issued under the name Hijazi– Najdi Currency Law.

The establishment of the Saudi Arabian Monetary Authority.

The issuance of the Second Currency Law and the Currency Control Law.

The independence of the authority and its management is entrusted to a board of directors overseeing its operations.

The issuance of the Third Currency Law.

The issuance of the Fourth Currency Law.

The establishment of the Institute of Banking.

The issuance of Banking Control Law.

The transfer of the main headquarters of the Saudi Arabian Monetary Authority from Jeddah to Riyadh.

The approval of the Saudi Central Bank Law and the replacement of the designation the Saudi Arabian Monetary Authority with the designation Saudi Central Bank, while retaining the acronym SAMA for the Saudi Central Bank.