15/11/2018: New Currency Notes Introduced
Iceland released updated banknotes and coins featuring improved security measures and new designs, modernizing the Krona's physical appearance.
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.
15/03/2015: Capital Controls Lifted
Iceland lifted its capital controls, implemented after the financial crisis, allowing for more flexible foreign exchange transactions.
14/11/2010: IMF Loan Approved
Iceland secured a $2.1 billion loan from the International Monetary Fund, stabilizing the Krona and aiding economic recovery.
06/10/2008: Financial Crisis Begins
The collapse of Icelandic banks and subsequent financial crisis severely devalued the Krona, leading to economic turmoil.
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.
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.
05/03/1981: Stock Exchange Established
The Icelandic Stock Exchange was founded, promoting economic growth and affecting the Krona's value.
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.
10/05/1940: Occupation of Iceland
Following the German occupation of Denmark, Iceland became occupied by British forces, impacting the currency's stability.
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.
01/01/1922: Currency Board Established
The Icelandic Krona was introduced under the Danish Krone pegged to 1 Krone = 100 aurar.