Carrying 60,000 SR or More must submit a Declaration Form, Penalty awaits the Violator – Saudi Customs

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Saudi Customs stressed the importance of submitting a declaration form confirming that, those arriving or departing from the Kingdom of Saudi Arabia carrying money worth 60,000 riyals or more. 

The official Twitter of Saudi Customs announces it in a statement that, When you enter or leave the Kingdom, remember whether you have the necessary to declare it? stressing that failure to declare exposes you to legal accountability and penalty. 
– The Customs pointed out that the amount of money worth 60,000 riyals or more and the equivalent in any other currencies must be submitted with a declaration form, whether upon departing or arriving to the Kingdom. 

Source: Saudi Expatriates