Follow
WhatsApp

Saudi Arabia takes historic step to scrap Riyal Notes

Saudi Arabia takes historic step to scrap Riyal Notes

RIYADH – Saudi Arabian Monetary Agency (SAMA) will introduce Riyal coinsstarting from Thursday to gradually replace the Riyal notes, the mediareported on Wednesday.

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

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

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