Saudi Arabia takes historic step to scrap Riyal Notes

Saudi Arabia takes historic step to scrap Riyal Notes
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RIYADH - Saudi Arabian Monetary Agency (SAMA) will introduce Riyal coins starting from Thursday to gradually replace the Riyal notes, the media reported on Wednesday.

To get ready for the introduction of the coins, SAMA has taken the required measures for easy dealing, including the allocation of sorting and counting machines, reported Xinhua citing a report on Sabq local online.

SAMA said coins have long life expectancy, greater resilience to counterfeiting and ease of recycling.

The move is part of a series of steps that Saudi Arabia is adopting to promote business efficiency to meet various economic growth plans, mainly huge international projects that are based in the country.

Middle East