20/05/2018: SAMA grants licenses for full-fledged digital banks
SAMA issued licenses to two banks for providing digital banking services, reflecting a shift towards digitalization in the financial sector.
21/12/2016: Saudi Arabia introduces the SAR 200 note
A new 200 riyal banknote was introduced, featuring a portrait of King Abdullah bin Abdulaziz Al Saud.
10/09/2008: Introduction of Birr Denominations
Ethiopia introduced new banknotes of different denominations in an effort to combat counterfeiting and improve security features.
20/12/2003: Launch of Riyal Interbank Express (SARIE)
SAMA launched SARIE, a real-time gross settlement system, improving interbank transactions and money transfers.
27/05/1997: Introduction of Saudi Arabian Monetary Agency new design series
SAMA introduced a new series of banknotes with enhanced security features to combat counterfeiting.
27/05/1991: Introduction of Birr Coins
Ethiopia introduced coins for the birr denominations, replacing the previous notes.
30/06/1986: Saudi riyal pegged to the US dollar at 3.75 SAR per USD
Saudi Arabia pegged its currency to the USD, ensuring stability and ease of trade with international partners.
17/09/1976: Introduction of New Birr
A new birr was introduced, replacing the previous Ethiopian birr and being equal to 100 old birr.
01/03/1952: Introduction of Saudi Arabian Monetary Agency (SAMA)
SAMA was established as the central bank of Saudi Arabia, responsible for issuing and managing the Saudi riyal.
08/07/1945: Decree to Change Birr Decimalization
Ethiopia changed the birr decimalization from talari and ghersh to dollars and cents.
23/09/1932: Establishment of the Kingdom of Saudi Arabia
The Saudi riyal currency was introduced following the unification of the Kingdom under King Abdulaziz Al Saud.
31/12/1931: Introduction of Ethiopian birr
The Ethiopian birr was introduced as the official currency, replacing the Maria Theresa Thaler.
05/07/1931: Ethiopian Monetary Authority Established
The Ethiopian Monetary Authority was established to regulate the country's monetary system and issue currency.
14/02/1894: Introduction of Maria Theresa Thaler
Ethiopia adopted the Maria Theresa Thaler as the official currency, which remained in circulation until 1935.