How Were Monetary Transactions Conducted Before King Abdulaziz Entered Riyadh?

Before the Founding King Abdulaziz Bin Abdulrahman Al Saud entered Riyadh City in 1902, monetary transactions in the Kingdom of Saudi Arabia were conducted through several unregulated means. These included bartering, or exchanging goods for other goods, as well as using various foreign currencies, the most prominent of which were: The Austrian Thaler, locally known as the "Maria Theresa Dollar," which was commonly referred to as the "French Riyal," made from cupronickel metal, and the British pound, known among locals as "George's Pound."

King Abdulaziz aimed to stabilize monetary conditions and reduce the diversity of foreign currencies in local circulation. Prior to 1922, he counter-stamped the word 'Najd' on some of the widely circulated currencies. Currencies affected included the French Riyal and the Indian Rupee, along with various copper coins and Qirsh in circulation at the time. The stamped currencies became the officially recognized currencies at the time.