Saudi Arabia Shows Strong Commitment to Implementing G20 Summit Outcomes

Saudi Arabia Shows Strong Commitment to Implementing G20 Summit Outcomes
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Saudi Arabia Shows Strong Commitment to Implementing G20 Summit Outcomes

Saudi Arabia Shows Strong Commitment to Implementing G20 Summit Outcomes

Saudi Arabia has demonstrated the highest levels of commitment in implementing the outputs of the G20 Summit related to cyber resilience, according to the follow-up report.

This confirms the great importance the Kingdom attaches to national cybersecurity and its perception that it is a basic goal and constituent to protect Saudi Arabia’s vital interests and sensitive infrastructure as well as priority sectors and government services and activities so as to ensure a safe and reliable Saudi space that enables growth and prosperity.

The report indicated that the Kingdom, represented by the National Cybersecurity Authority, issued a number of controls and regulations related to cybersecurity, the most prominent of which were the launch of cybersecurity controls for cloud computing, the launch of cybersecurity guidelines for e-commerce, the development of cybersecurity tools, and the launch of cybersecurity controls for sensitive systems.

Saudi Arabia also adopted the national cybersecurity strategy, which marks a new phase in the process of cybersecurity in the Kingdom, and contributes to the establishment of an integrated national system for cybersecurity that enables national entities to raise the level of their cybersecurity and protect their networks, systems and electronic data.

At the international level, the report indicated that the Kingdom has made great efforts in terms of building international partnerships in cybersecurity. Crown Prince Mohammed bin Salman adopted two international initiatives to enhance the protection of cyberspace. The first is to protect children in cyberspace and the second seeks to empower women in cybersecurity.

These initiatives coincided with the launch of the International Cybersecurity Forum, in which a group of heads of cybersecurity agencies and bodies in a number of countries and international organizations participated to discuss strengthening cyber resilience and capabilities and encouraging international cooperation in this field.

The forum witnessed the “Riyadh Cybersecurity Statement”, which calls on everyone to join in supporting a number of goals and recommendations aimed at exerting efforts toward better cyberspace for all.

The report also pointed out the signing of a memorandum of understanding with the Global Cybersecurity Forum for information sharing and developing technical capabilities and training of more than 500 specialists in the field of sharing cyber information.

The National Cybersecurity Authority, as part of its efforts to protect cybersecurity in the Kingdom, had launched the national cybersecurity strategy last September, which aims to direct national efforts toward strengthening cybersecurity, as a national framework to support government efforts and extremely significant infrastructure.

The move seeks to enhance the Kingdom’s cyberspace security and to follow safe practices to deal with technology and protect information, data, and systems for national entities in the Kingdom. The strategy also aims to work on preparing qualified cadres, encouraging and enabling national authorities and the private sector to invest and create a conducive environment for innovation in cybersecurity.



Custodian of the Two Holy Mosques Approves Saudi Riyal Symbol

Custodian of the Two Holy Mosques Approves Saudi Riyal Symbol
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Custodian of the Two Holy Mosques Approves Saudi Riyal Symbol

Custodian of the Two Holy Mosques Approves Saudi Riyal Symbol

Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud approved on Thursday the Saudi riyal symbol in a historic move that will reinforce the Saudi currency's identity.

SAMA Governor Ayman Al-Sayari extended his profound appreciation to the Custodian of the Two Holy Mosques and Prince Mohammed bin Salman bin Abdulaziz Al Saud, Saudi Crown Prince and Prime Minister, for launching the Saudi riyal symbol.

A Saudi Central Bank (SAMA) statement quoted Al-Sayari as saying that this decision reinforces Saudi Arabia's financial identity locally, regionally, and internationally. He indicated that the implementation of the new symbol will be gradual for financial and commercial transactions, with coordination across all relevant entities.

Al-Sayari said this initiative aims to promote national identity and cultural belonging, highlight the role of the national currency, and showcase the Kingdom among major global economies and G20 members. The initiative also signifies the increasingly important role of the national currency in the global financial ecosystem.

The Saudi riyal symbol

The governor acknowledged the collaborative efforts that have facilitated this achievement, extending his appreciation to all contributing entities involved in the symbol's development project led by SAMA, including the Ministry of Culture, the Ministry of Media, and the Saudi Standards, Metrology and Quality Organization.

According to the statement, the Saudi riyal symbol, developed to the highest technical standards, embodies the Kingdom's rich cultural heritage, carrying the name of the national currency "Riyal" in a design derived from Arabic calligraphy.

"The symbol will streamline the representation of the Saudi riyal in local, regional, and international contexts, making it suitable for use in referring to the Saudi riyal in all financial and commercial transactions," said the statement.

As Saudi Arabia advances its Vision 2030 agenda, the launch of the symbol solidifies the importance of the Kingdom's financial system and its increasing role regionally and internationally.