Saudi Central Bank to retain ‘SAMA’ acronym for its historical importance

Saudi Arabia’s Cabinet approved on Tuesday the Saudi central bank law, changing the name of Saudi Arabian Monetary Authority (SAMA) to the ‘Saudi Central Bank’.

The Saudi Central Bank will retain the acronym "SAMA" for its historical importance and its position locally and internationally, according to an official statement. In addition, banknotes and coins of all denominations bearing the SAMA name will continue to retain statutory circulation and executive power.