IANS | 24 May, 2018
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 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.
