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
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
Payments in SAR toward Saudi Arabia
Besides the standard information, the IBAN format is mandatory (see Appendix VI).
Payments in SAR outside Saudi Arabia
The IBAN format is mandatory (see Appendix VI).
- 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