SAR – Saudi Arabian Riyal
The payment processing of this currency is considered to be relatively standardised.
Note for all domestic SAR payments and international payments (in foreign currency) issued from Saudi Arabia, the purpose of payment code (see Appendix XII) is mandatory and has to be added to the reason of payment. The purpose of payment code consists of a 4 character code that must be specified in Field 70.
- Currency Guidelines
Besides the standard information, the IBAN format is mandatory (see Appendix VI) as well as the full beneficiary's address.
A clear reason / purpose of payment is mandatory and consists of a full written description (in English) of the nature of payment to be provided in the remittance information. For example: providing an invoice number without guiding text is considered as insufficient and can result in errors or delays.
Example: Payment of travel expenses – invoice n° 123456789
Please be advised that the Saudi Arabian Monetary Authority (SAMA) do not recommend executing SAR payments outside the Kingdom of Saudi Arabia. As a consequence, a SAR payment outside Saudia Arabia might be rejected. In this situation we therefore recommend to use another currency (EUR, etc.). Please contact your Account Manager for further information should you need to execute recurrent SAR payments outside the country.
- Instructions, technical guidelines & more
To consult the Technical Guidelines of this currency, click hereTECHNICAL GUIDELINES
To consult the Appendix(es) click hereAppendix VI: IBAN Application Rules
Appendix XII: Purpose of Payment Codes (SAR)
- Additional information
• Available charge options: OUR/SHA/BEN
• Central bank of Saudi Arabia: http://www.sama.gov.sa/sites/samaen/Pages/Home.aspx