Saudi Arabia to introduce Riyal coins from Thursday

By On May 24, 2018

Saudi Arabia to introduce Riyal coins from Thursday

Saudi Arabia to introduce Riyal coins from ThursdayIANS|May 23, 2018, 09.56 PM IST

FILE PHOTO: An investor walks past a screen displaying stock information at the Saudi Stock Exchange (Tadawul) in Riyadh, Saudi Arabia
The move is part of a series of steps that Saudi Arabia is adopting to promote business efficiency.
Saudi Arabian Monetary Agency (SAMA) will introduce Riyal coins starting from Thursday to gradually replace the Riyal notes, the media reported on Wedn esday.
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 has defended the move for reasons including the long life expectancy of the coins, 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.
Read more onSaudi Arabiabusiness efficiencySaudi Arabian Monetary Agencyriyalcoins

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Source: Google News Saudi Arabia | Netizen 24 Saudi Arabia

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