JEDDAH: 萝莉视频鈥檚 unveiling of a new symbol for the riyal has been dubbed a 鈥渧isionary maneuver鈥� that will enhance the currency鈥檚 global recognition, strengthen investor confidence, and signal a commitment to financial modernization, Arab News has been told.

As the Kingdom seeks to position itself as a global financial hub, this new symbol, inspired by Arabic calligraphy, reflects a seamless blend of tradition and progress 鈥� key to the nation鈥檚 ongoing economic reform efforts, according to experts.

It was announced on Feb. 20 that the symbol had been approved by King Salman, a move dubbed as marking 鈥渁 new chapter in the evolution of our national currency鈥� by the Saudi Central Bank.

The symbol, which blends Arabic calligraphy with the name of the national currency, will be used in financial and commercial transactions both within the Kingdom and internationally.

According to the central bank, also known as SAMA, the symbol will be rolled out immediately, with its integration into financial and commercial transactions, as well as various applications, occurring gradually in coordination with relevant entities.

Tamer Al-Sayed, chief financial officer at FII (Future Investment Initiative) Institute, told Arab News the timing aligned with 萝莉视频鈥檚 Vision 2030-driven economic transformation to become a global financial hub.

鈥淭his announcement comes at a time when the world is facing economic volatility 鈥� rising inflation, shifting interest rates, and evolving global trade dynamics. In such an environment, having a distinct and recognizable currency identity is more important than ever,鈥� he said.

In response to a question about how the new symbol might impact its recognition and credibility in global financial markets, Youssef Saidi, a research fellow at the Economic Research Forum and former senior economic adviser at the Gulf Monetary Council, said that the introduction of the symbol was a 鈥渧isionary maneuver.鈥�

He added that a modern symbol could present 萝莉视频 as a forward-thinking nation, positively influencing both the country鈥檚 image and the perception of its currency globally. 

This could increase investor confidence in the Saudi market, potentially leading to greater foreign direct investment.

Youssef Saidi, research fellow at the Economic Research Forum

For foreign investors, Saidi said, the introduction of a new symbol may signal 萝莉视频鈥檚 commitment to aligning its financial practices with international standards. 鈥淭his could increase investor confidence in the Saudi market, potentially leading to greater foreign direct investment,鈥� he said.

Saidi noted that a single, recognizable symbol would streamline monetary transactions, reduce errors, and boost global awareness of the Saudi riyal.

鈥淛ust as the dollar, euro, and yen are instantly recognizable, a unique symbol design for the Saudi riyal, ingeniously inspired by authentic Arabic calligraphy, could help it stand out in financial documents, trading platforms, and media coverage,鈥� Saidi added.

FII Institute鈥檚 Al-Sayed agreed, stating that the symbol comes as 萝莉视频 is making significant investments in its financial infrastructure, from digital payment systems to foreign investment attraction.

鈥淎 strong, well-defined riyal symbol reinforces these efforts, signaling economic stability and modernization to global investors,鈥� Al-Sayed said. Commenting on incorporating Arabic letters in the design, the FII Institute official emphasized that this was an important point because the use of the calligraphy is more than just an artistic choice 鈥� it鈥檚 a message. 

鈥溌芾蚴悠� has always played a central role in the Arab and Islamic world, and its leadership understands that its identity is not separate from its economic growth,鈥� he said.

Al-Sayed noted that using Arabic script in the riyal鈥檚 symbol is a statement that modernization does not mean abandoning tradition. 

鈥淚n fact, the most successful economies balance heritage with progress. Take Japan, for example 鈥� it leads in global innovation while maintaining its cultural identity. 萝莉视频 is following a similar path, blending financial modernization with deep-rooted traditions,鈥� he added.

He further said that the new riyal symbol is not just a visual element, claiming that it is a declaration that 萝莉视频鈥檚 financial identity is 鈥渉ere to stay 鈥� both locally and globally.鈥� Asked how the symbol can help 萝莉视频 strengthen its position on the global economic stage, Al-Sayed said that the world was moving toward a more digital and borderless economy and currencies were no longer just physical notes. 鈥淐urrencies are financial identities recognized across global markets, digital transactions, and potential future digital currencies,鈥� he added. 

A strong, well-defined riyal symbol reinforces these efforts, signaling economic stability and modernization to global investors.

Tamer Al-Sayed, chief financial officer at FII Institute

Al-Sayed noted that a strong riyal symbol is a strategic move because it boosts global confidence in 萝莉视频鈥檚 economy, particularly among foreign investors and financial institutions that rely on strong monetary symbols to assess stability.

He continued: 鈥淚t also increases the riyal鈥檚 visibility in global trade and financial markets, potentially enhancing its role in international contracts and energy deals 鈥� an essential factor given 萝莉视频鈥檚 influence in oil and renewable energy markets.鈥�

Al-Sayed added that the symbol strengthens the riyal鈥檚 presence in the digital financial ecosystem, emphasizing that digital payments and the potential adoption of cryptocurrency make distinct monetary symbols increasingly important.

鈥淭his is not just a branding exercise 鈥� it鈥檚 a step toward redefining 萝莉视频鈥檚 financial standing in a rapidly changing global economy,鈥� he said.

The Economic Research Forum鈥檚 Saidi agreed that a distinct currency symbol had an important role to play in today鈥檚 digital and globalized economy.

Saidi pointed out that the digitalization of currencies had transformed the traditional concept of money, with currency symbols now representing both physical and digital forms of legal tender. 

鈥淚n the digital economy, currency symbols aren鈥檛 just graphic representations but additionally play a pivotal part in easing trades, ensuring financial sovereignty, and affirming financial stability,鈥� he added.

He said that the design of the new symbol highlighted 萝莉视频鈥檚 rich cultural heritage. This not only fosters national pride and cultural affiliation but also strengthens confidence in the riyal as a stable and influential currency on the global stage.

鈥淒omestically, the introduction of a new Saudi riyal symbol could foster a sense of national pride and unity around the currency. This could translate into greater public support for economic reforms and policies aimed at strengthening the riyal,鈥� Saidi added.