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Since 1952 , the Saudi currency has been printed, minted, and issued at the Saudi Central Bank 'SAMA' (formerly the Saudi Arabian Monetary Agency). As per Saudi laws, this privilege is exclusive to the bank, and no one else may exercise this right. The Council of Ministers determines the denominations of coins and banknotes, their shapes, designs, engravings, dimensions, contents, and all matters related to their descriptions and expenses, as well as storage locations, molds, and sc...

1902 Before the Founding King Abdulaziz Bin Abdulrahman Al Saud regained Riyadh City , the barter system was prevalent for conducting trade exchanges. 1902-1922 In the early days of the unification of the Kingdom of Saudi Arabia, commercial transactions were conducted using foreign currencies made of gold, silver, bronze, and copper. 1922 The word 'Najd' was added to the commonly used currency at the time, making it the officially recognized currency of the Sultanate of Najd. 1925 The...

The first paper currency in the Kingdom of Saudi Arabia was issued during the reign of the Founding King Abdulaziz Bin Abdulrahman Al Saud . It had a value of SAR0.5 and featured the inscription: 'The Kingdom of Saudi Arabia, Ministry of Finance , I hereby promise to pay upon request to the bearer of this note SAR0.5.' The note bore a serial number, along with the name and the stamp of the Deputy Minister of Finance. The first official issuance of paper currencies was under the Curren...

The Kingdom of Saudi Arabia's external debt, or foreign debt, is one of the means of providing liquidity and constitutes part of the country's total public debt, alongside domestic public debt. It is the total of the bonds owned by parties outside the country, such as foreign governments, individuals outside the nation's borders, and international organizations. Through cash surpluses and reducing the budget deficit, the Kingdom managed to decrease the debt size from 2005 to 2014...

The Interest Rate in the Kingdom of Saudi Arabia is a monetary tool employed by the Saudi Central Bank (SAMA), similar to other central banks globally. Its purpose is to regulate the flow of liquidity within the macroeconomy, whether during periods of recession, slowdown, growth, or recovery. The entity responsible for the interest rate in Saudi Arabia SAMA uses the interest rate to determine the cost of borrowing between banks for overnight or longer periods. It also sets the cost for banks an...

Digital Banks in the Kingdom of Saudi Arabia are digital wallets offering all banking services using advanced digital technologies. They were licensed to operate in the Kingdom under a decision from the Council of Ministers on June 22, 2021. Three local digital banks are licensed in the Kingdom. List of digital banks in Saudi Arabia Digital banks based in the Kingdom include: Saudi Digital Payment Company (stc pay) , which was transformed into a local digital bank with a capital estimated at SA...

It is the parallel market to the Saudi Exchange or Saudi Tadawul, commonly referred to as Nomu. It was launched by the main market, the Saudi Exchange, under the supervision and regulation of the Capital Market Authority as an additional source for companies to raise funds and increase capital. It also aims to diversify available investment tools and further develop the Saudi capital market. The trading of securities on 'Nomu' market began in 2017. 'Nomu' market is character...

The list of local banks in the Kingdom of Saudi Arabia includes eleven banks: Saudi National Bank . Alrajhi Bank . Riyad Bank. Saudi Awwal Bank (SAB.) Arab National Bank. Alinma Bank . Banque Saudi Fransi. Saudi Investment Bank . Bank AlJazira. Bank Albilad. Gulf International Bank. ...

The Saudi National Bank (SNB) is a Saudi bank that emerged from the merger of two banks. On April 1, 2021, it was announced that Samba Financial Group (Samba) was merged into the National Commercial Bank, with all of Samba's assets and liabilities transferred into the National Commercial Bank through a share swap, and the official launch of the new bank headquartered in the capital, Riyadh . The Saudi National Bank started trading as a unified entity listed in the Saudi Stock Exchange ...

Al-Rajhi Bank is a Saudi bank established on January 23, 1978. It practices banking and investment business following the provisions of the Islamic Sharia for its account or the account of others, for individuals and companies, inside and outside the Kingdom of Saudi Arabia, and its main headquarters is located in the capital, Riyadh . The bank was listed on the ' Saudi Tadawul ' on December 1, 1988, and its shares are traded on the main Saudi market 'Saudi Tadawul' within t...

Income Tax on Foreign Establishments in the Kingdom of Saudi Arabia is a mandatory tax imposed by the Zakat, Tax, and Customs Authority in the Kingdom. Income tax is applied to every natural or legal person who carries out an activity in the Kingdom, non-residents who earn income from a source within the Kingdom, resident capital companies on the shares of non-Saudi partners, and individuals engaged in the production of oil and hydrocarbon materials. Income tax rate to the tax base The tax is c...

The Saudi Exchange originated informally in the 1950s and continued to operate in this manner until the 1980s, when the government introduced fundamental regulations. With the issuance of the 'Capital Market Law' under Royal Decree No. (M/30) on July 31, 2003, the Capital Market Authority (CMA) was established. It is a governmental authority with financial and administrative independence, directly reporting to the Prime Minister. The Capital Market Law stipulates the establishment of ...