Currency Law

Release Date:	1379-07-01
Release Tool:	Royal Decree
Issuance Instrument Number:	6
Validity:	Valid
Date of last amendment:	1442-04-11
Summary:	By AI The text addresses the Law on the Issuance of Saudi Currency, stating that the Saudi riyal consists of five halalas, and its price may be adjusted according to international agreements. The issuance of currency is limited to the Saudi Arabian Monetary Authority with the approval of the Minister of Finance, which includes determining the forms and sizes of banknotes. The text discusses the procedures for seizing and confiscating counterfeit money, and the necessity of announcing new currency in t...

Release Date:

1379-07-01

Release Tool:

Royal Decree

Issuance Instrument Number:

6

Validity:

Valid

Date of last amendment:

1442-04-11

Summary:

By AI

The text addresses the Law on the Issuance of Saudi Currency, stating that the Saudi riyal consists of five halalas, and its price may be adjusted according to international agreements. The issuance of currency is limited to the Saudi Arabian Monetary Authority with the approval of the Minister of Finance, which includes determining the forms and sizes of banknotes. The text discusses the procedures for seizing and confiscating counterfeit money, and the necessity of announcing new currency in t...