I see arabic flag in /usr/share/xfce4/xkb/flags/ which has name sa.svg. To display flag in panel, simply copy or make link to ara.svg from that file.
$ cd /usr/share/xfce4/xkb/flags/
$ sudo ln -s sa.svg ara.svg


base_color=normal=editnormal=,default:But since version 4.7.0.x (using in Ubuntu 10.04 and later) it doesn't work. Especially while using mcedit, it looks ugly. it still using normal background color for empty space, see this bug.