1087) Banknotes of the Saudi Riyal: Currencies of the Middle East (5):
Kingdom of Saudi Arabia - A brief:
The Kingdom of Saudi Arabia (KSA) lies in Western Asia and constitutes the bulk of the Arabian Peninsula. It is the largest sovereign state in the Middle East and the second largest in the Arab world - after Algeria. It is also the fifth largest country in Asia and the 12th largest in the world. Its economy is the largest in the Middle East and the 18th largest in the world.
The KSA is bordered by Jordan and Iraq to the North, Kuwait to the North-east, Qatar, Bahrain and the United Arab Emirates to the East, Oman to the Southeast and Yemen to the South. It is separated from Israel and Egypt by the Gulf of Aqaba. It is the only nation with both a Red Sea coast and a Persian Gulf coast. Most of its terrain is arid desert, lowland and mountains.
It has one of the world's youngest populations - almost 50% of its 33.4 million inhabitants are under 25 years of age. The languages spoken are - Arabic (official language) and Najdi, Hejazi, Gulf, Bedawi, Bareqi etc. (spoken languages). Its religion is Sunni Islam.
In the early 7th Century, the Islamic prophet Muhammad united the population of Arabia and created single Islamic religious polity.
Following the Prophet's death in 632 AD, his followers rapidly expanded Muslim rule beyond Arabia conquering territories from the Iberian Peninsula in the West to modern day Pakistan in the East in just a few decades.
Arab dynasties originating from modern day Saudi Arabia founded the Rashidun (632-66 AD), Umayyad (661-750 AD) and Fatimid (909-1171 AD) Caliphates, as well as several dynasties in Asia, Africa and Europe.
Modern day Saudi Arabia previously comprised four distinct regions - Hejaz, Najd and parts of Al-Ahsa (Eastern Arabia) and Asir (Southern Arabia).
In 1932, the Kingdom of Saudi Arabia was founded by Ibn Saud, who united the four regions into a single country/state through a series of conquests beginning in 1902 with the capture of Riyadh, the ancestral home of his family - the House of Saud.
Ever since, KSA has been a totalitarian absolute monarchy, which is effectively a hereditary dictatorship governed along Islamist lines/laws.
Saudi Arabia is also referred to as the "Land of two mosques - "Al-Masjid al-Haram (in Mecca) and Al-Masjid an-Nawabi (in Medina) - which are the two holiest places in Islam.
Saudi Arabia discovered large Oil Reserves in 1938 and is now the world's second biggest Oil exporter after the USA. It controls the world's second largest Oil reserves and the sixth largest Gas reserves.
Kingdom of Saudi Arabia - A brief:
The Kingdom of Saudi Arabia (KSA) lies in Western Asia and constitutes the bulk of the Arabian Peninsula. It is the largest sovereign state in the Middle East and the second largest in the Arab world - after Algeria. It is also the fifth largest country in Asia and the 12th largest in the world. Its economy is the largest in the Middle East and the 18th largest in the world.
The KSA is bordered by Jordan and Iraq to the North, Kuwait to the North-east, Qatar, Bahrain and the United Arab Emirates to the East, Oman to the Southeast and Yemen to the South. It is separated from Israel and Egypt by the Gulf of Aqaba. It is the only nation with both a Red Sea coast and a Persian Gulf coast. Most of its terrain is arid desert, lowland and mountains.
It has one of the world's youngest populations - almost 50% of its 33.4 million inhabitants are under 25 years of age. The languages spoken are - Arabic (official language) and Najdi, Hejazi, Gulf, Bedawi, Bareqi etc. (spoken languages). Its religion is Sunni Islam.
In the early 7th Century, the Islamic prophet Muhammad united the population of Arabia and created single Islamic religious polity.
Following the Prophet's death in 632 AD, his followers rapidly expanded Muslim rule beyond Arabia conquering territories from the Iberian Peninsula in the West to modern day Pakistan in the East in just a few decades.
Arab dynasties originating from modern day Saudi Arabia founded the Rashidun (632-66 AD), Umayyad (661-750 AD) and Fatimid (909-1171 AD) Caliphates, as well as several dynasties in Asia, Africa and Europe.
Modern day Saudi Arabia previously comprised four distinct regions - Hejaz, Najd and parts of Al-Ahsa (Eastern Arabia) and Asir (Southern Arabia).
In 1932, the Kingdom of Saudi Arabia was founded by Ibn Saud, who united the four regions into a single country/state through a series of conquests beginning in 1902 with the capture of Riyadh, the ancestral home of his family - the House of Saud.
Ever since, KSA has been a totalitarian absolute monarchy, which is effectively a hereditary dictatorship governed along Islamist lines/laws.
Saudi Arabia is also referred to as the "Land of two mosques - "Al-Masjid al-Haram (in Mecca) and Al-Masjid an-Nawabi (in Medina) - which are the two holiest places in Islam.
Saudi Arabia discovered large Oil Reserves in 1938 and is now the world's second biggest Oil exporter after the USA. It controls the world's second largest Oil reserves and the sixth largest Gas reserves.
The Saudi Riyal is the currency of Saudi Arabia, subdivided into 100 halalas.
The Riyal was also the currency of Hejaz, before Saudi Arabia was created - and was one lf the primary currencies in the Mediterranean Region during the Ottoman Era.
The Hejaz Riyal had the same weight as the Ottoman 20 Kurus coin, it was minted in .917 fineness silver, compared to the .830 fineness of the Ottoman Coin
and was sub-divided into 20 Qirsh.
The first Saudi Riyal too had the same specifications as the Hejaz Riyal and circulated alongside Ottoman coins, it came to have a value of 22 Ghirsh when coins denominated in Qirsh were first issued in 1925.
In 1935, this system of valuation/exchange rate remained even though the Riyal was being minted to a coin equivalent in silver content to the Indian Rupee.
In 1960, the sub-division was changed to 20 Qirsh to a Riyal.
In 1963, a new system was introduced of 100 Halala being equal to 1 Riyal.
Although some coins still bear denominations in Qirsh, but these are not commonly used.
Saudi Arabian Monetary Authority (SAMA):
The Saudi Arabian Monetary Authority (SAMA) set up in 1952, is the Central Bank of the Kingdom of Saudi Arabia. Earlier it was known as "Saudi Arabian Monetary Agency".
Prior to the establishment of SAMA, the Saudi Hollandi Bank (a branch of the Netherlands Trading Society) from 1926, acted as a de facto Central Bank. It kept the Kingdom's Gold Reserves and received Oil Revenues on behalf of the Saudi Arabian government.
In 1928, the Saudi Hollandi Bank coordinated with the government in establishing a new Saudi silver coin, commissioned by King Abdulaziz which became the Kingdom's first independent currency.
SAMA took over the responsibilities of the Saudi Hollandi Bank upon its establishment in 1952. Presently SAMA manages the issue of National currency - the Saudi Riyal - supervises commercial banks, manages foreign exchange reserves, promotes price and exchange rate stability and ensures the growth and soundness of thefinancial system among other supervisory and control responsibilities.
Saudi Arabian Monetary Authority (SAMA):
The Saudi Arabian Monetary Authority (SAMA) set up in 1952, is the Central Bank of the Kingdom of Saudi Arabia. Earlier it was known as "Saudi Arabian Monetary Agency".
Prior to the establishment of SAMA, the Saudi Hollandi Bank (a branch of the Netherlands Trading Society) from 1926, acted as a de facto Central Bank. It kept the Kingdom's Gold Reserves and received Oil Revenues on behalf of the Saudi Arabian government.
In 1928, the Saudi Hollandi Bank coordinated with the government in establishing a new Saudi silver coin, commissioned by King Abdulaziz which became the Kingdom's first independent currency.
SAMA took over the responsibilities of the Saudi Hollandi Bank upon its establishment in 1952. Presently SAMA manages the issue of National currency - the Saudi Riyal - supervises commercial banks, manages foreign exchange reserves, promotes price and exchange rate stability and ensures the growth and soundness of thefinancial system among other supervisory and control responsibilities.
Banknotes of the Saudi Riyal:
In 1953, the Saudi Monetary Agency (SAMA) began issuing Haj Pilgrim Receipts for 10 Riyals and 1 and 5 Riyal receipts from 1954 and 1956 onwards.
These Receipts resembled Banknotes and were intended for use by pilgrims who exchanged foreign currency for them.
These receipts were widely accepted in Saudi Arabia and came to replace the Silver Riyal Coins in major financial transactions.
On 15.06.1961, the Monetary Agency on seeing the wide acceptance of the Haj Receipts, began issuing regular Banknotes in the denominations of 1, 5, 10, 50 and 100 Riyals and the Pilgrim Receipts were withdrawn from 01.02.1965 onwards.
In 1983, 500 Riyal Banknote denomination was introduced.
From 1984-2007 the Fourth Series of Banknotes under King Fahad were issued/circulated.
The Front of a One Saudi Riyal Banknote shows a portrait of King Fahad. At left is a 7th Century Gold Dinar.
From 1984-2007 the Fourth Series of Banknotes under King Fahad were issued/circulated.
In 2000, 20 and 200 Riyal Banknotes were circulated to commemorate the Centenary of the founding of the Kingdom of Saudi Arabia.
These Banknotes were withdrawn from circulation in 2008.
On 20.05.2007, the 5th Series of Banknotes, bearing the image of King Abdullah Bin Abdulaziz's picture, (except for the 500 Riyals Banknote, which features King Abdullah Abdulaziz Al Saud) were introduced.
Banknotes of the 5th Series (2007 onwards):
On the Front of the One Riyal Banknote is depicted an image of King Abdullah Bin Abdul-Aziz al Saud (01.08.1924-23.01.2015 - Reign: 01.08.2005-23.01.2015) and a 7th Century Gold Dinar.
On the Back of the One Riyal Banknote is depicted the Saudi Arabian Monetary Agency (SAMA) headquarters building.
The Size of this Banknote is 133 mm x 63 mm and its Colour is predominantly light green. This Banknote was first issued on 31.12.2007.
On the Front of 5 Riyals Banknote is seen an image of King Abdullah Bin Abdul-Aziz al Saud and the Ras Tanorah Oil Refinery.
On the Back of the 5 Riyals Banknote is seen the Ras Tanorah tanker loading terminal at Jubayl Port in the Eastern region.
The above Banknote was first issued in July 2007, although this Banknote was issued in 2009.
The Size of this Banknote is 145.0 mm x 66.0 mm and its Colour is violet.
On the Front of the 10 Riyals Banknote is seen an image of King Abdullah Bin Abdul-Aziz al Saud and his palace in Almoraba.
On the Back of the 10 Riyals Banknote is seen an image of King Abdul Aziz Historical Centre, Riyadh.
On the Front of the 50 Riyals Banknote is seen an image of King Abdullah Bin Abdul-Aziz al Saud and the Dome of the Rock in Jerusalem (a holy site for all three religious faiths - Islam, Christianity & Jews).
On the Back of the 50 Riyals Banknote is seen the Al-Aqsa mosque in Jerusalem.
The above Banknote was first issued on 21.05.2007, although this Banknote was issued in 2009.
The Size of this Banknote is 155.0 mm x 70.0 mm and its Colour is predominantly dark green.
On the Front of the 100 Riyals Banknote is seen an image of King Abdullah Bin Abdul-Aziz al Saud and the Green Dome of The Prophet's Mosque in Medina.
On the Back of the 100 Riyals Banknote is seen The Prophet's Mosque in Al Madinah Al Monawarah.
This Banknote was first issued on 21.05.2007.
The Size of this Banknote is 160.0 mm x 72.0 mm and its Colour is predominantly Red.
On the Front of the 500 Riyals Banknote is seen an image of King Abdulaziz Al Saud and the Ka'aba in Mecca.
On the Back of the 500 Riyals Banknote is seen the Holy Mosque in Makkah Al Mukarramah (Mecca).
This Banknote was first issued in 09/2007.
The Size of this Banknote is 166.0 mm x 74.0 mm and its Colour is predominantly blue.
On 13.12.2016 (14/3/1438H), the 6th Series of Banknotes bearing the image of King Salman bin Abdulaziz Al Saud were introduced.
The 6th Series of Banknotes (2016 onwards):
On the Front of the 5 Riyals Banknote is seen an image of King Salman and the Shaybah Oil Refinery in Rub'al Khali.
On the Back of the 5 Riyals Banknote is seen a reclaimed desert on which plants are growing, with flowers in full bloom.
This Banknote was first issued on 26.12.2016.
The Size of this Banknote is 145.0 mm x 66.0 mm and its Colour is predominently violet.
On the Front of the 10 Riyals Banknote is seen an image of King Salman and a fortress.
On the Back of the 10 Riyals Banknote is seen the capital of Saudi Arabia Riyadh's skyline.
This Banknote was first issued on 26.12.2016.
The Size of this Banknote is 150.0 mm x 68.0 mm and its Colour is predominantly brown.
On the Front of the 50 Riyals Banknote is depicted an image of King Salman and the Dome of the Rock in Jerusalem.
On the Back of the 50 Riyals Banknote is seen the Al Aqsa Mosque in Jerusalem.
This Banknote was first issued on 26.12.2016.
The Size of this Banknote is 155.0 mm x 70.0 mm and its Colour is predominantly green.
On the Front of the 100 Riyals Banknote is depicted an image of King Salman and the Green Dome of The Prophet's Mosque in Medina.
On the Back of the 100 Riyals Banknote is seen The Prophet's Mosque in Al Madinah Al Monawarah.
This Banknote was first issued on 26.12.2016.
The Size of this Banknote is 160.0 mm x 72.0 mm and its Colour is predominantly red.
On the Front of the 500 Riyals Banknote is seen an image of King Abdulaziz Al Saud and the Ka'aba at Mecca.
On the Back of the 500 Riyals Banknote is seen the Holy Mosque in Makkah Al Mukarramah, Mecca.
This Banknote was first issued on 26.12.2016.
The Size of this Banknote is 166.0 mm x 74.0 mm and its Colour is predominantly blue.
Links:
Banknotes of the 5th Series (2007 onwards):
On the Front of the One Riyal Banknote is depicted an image of King Abdullah Bin Abdul-Aziz al Saud (01.08.1924-23.01.2015 - Reign: 01.08.2005-23.01.2015) and a 7th Century Gold Dinar.
On the Back of the One Riyal Banknote is depicted the Saudi Arabian Monetary Agency (SAMA) headquarters building.
The Size of this Banknote is 133 mm x 63 mm and its Colour is predominantly light green. This Banknote was first issued on 31.12.2007.
The above Banknote was first issued in July 2007, although this Banknote was issued in 2009.
The Size of this Banknote is 145.0 mm x 66.0 mm and its Colour is violet.
On the Front of the 10 Riyals Banknote is seen an image of King Abdullah Bin Abdul-Aziz al Saud and his palace in Almoraba.
On the Back of the 10 Riyals Banknote is seen an image of King Abdul Aziz Historical Centre, Riyadh.
The above Banknote was first issued on 21.05.2007, although this Banknote was issued in 2009.
The Size of this Banknote is 155.0 mm x 70.0 mm and its Colour is predominantly dark green.
On the Front of the 100 Riyals Banknote is seen an image of King Abdullah Bin Abdul-Aziz al Saud and the Green Dome of The Prophet's Mosque in Medina.
On the Back of the 100 Riyals Banknote is seen The Prophet's Mosque in Al Madinah Al Monawarah.
This Banknote was first issued on 21.05.2007.
The Size of this Banknote is 160.0 mm x 72.0 mm and its Colour is predominantly Red.
On the Front of the 500 Riyals Banknote is seen an image of King Abdulaziz Al Saud and the Ka'aba in Mecca.
On the Back of the 500 Riyals Banknote is seen the Holy Mosque in Makkah Al Mukarramah (Mecca).
This Banknote was first issued in 09/2007.
The Size of this Banknote is 166.0 mm x 74.0 mm and its Colour is predominantly blue.
On 13.12.2016 (14/3/1438H), the 6th Series of Banknotes bearing the image of King Salman bin Abdulaziz Al Saud were introduced.
The 6th Series of Banknotes (2016 onwards):
This Banknote was first issued on 26.12.2016.
The Size of this Banknote is 145.0 mm x 66.0 mm and its Colour is predominently violet.
This Banknote was first issued on 26.12.2016.
The Size of this Banknote is 150.0 mm x 68.0 mm and its Colour is predominantly brown.
This Banknote was first issued on 26.12.2016.
The Size of this Banknote is 155.0 mm x 70.0 mm and its Colour is predominantly green.
This Banknote was first issued on 26.12.2016.
The Size of this Banknote is 160.0 mm x 72.0 mm and its Colour is predominantly red.
This Banknote was first issued on 26.12.2016.
The Size of this Banknote is 166.0 mm x 74.0 mm and its Colour is predominantly blue.
(The above Banknotes are from the collection of Jayant Biswas, who has also scanned the images for this post. Post researched & written by Rajeev Prasad)
Links:
No comments:
Post a Comment