The Saudi Central Bank (SAMA), formerly the Saudi Arabian Monetary Authority, was established during the Era of the Founding King Abdulaziz bin Abdulrahman Al Saud, pursuant to Royal Decree No. 30/4/1/1046 dated 25/07/1371H, corresponding to 20/04/1952. SAMA was then designated as the authority responsible for regulating monetary policy and managing the banking sector in Saudi Arabia. 

Since then, SAMA has undertaken several key roles, including the issuance of Saudi currency and the development of payment infrastructure. Moreover, it is entrusted with the sole responsibility for formulating and implementing monetary policy, selecting its tools and operational procedures, and advising the government on monetary, banking, and financial affairs. SAMA’s role in the domestic economy and international finance helps contribute to national economic stability. ​