EFTPOS machine in each shop demanded

Updated 29 December 2012
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EFTPOS machine in each shop demanded

The national commercial committee (NCC) of the Council of Saudi Chambers asked the Saudi Arabian Monetary Agency (SAMA) to make sure all shops use electronic funds transfer at points of sale (EFTPOS). This will involve use of a machine for payment by debit or credit cards at points of sale.
This would prevent cover-up businesses and theft attempts, Wasef Kabli, a member of the NCC, told Al-Eqtisadiah newspaper.
He said NCC suggested to the director of SAMA that the agency enforce the system on all companies that have a commercial registry at the Ministry of Commerce and Industry.
“Enforcing this system will require every business owner to open an account for this purpose. Some businessmen have already applied to obtain such a point of sales (POS) from banks but they have been rejected,” Kabli said. He did not explain why these applications were rejected.
He said that providing EFTPOS at every sales outlet would help identify the real person behind each business transaction.
Rayan Darar, an economic consultant, said that conducting sales through POS would have a positive impact on fiscal transactions.
Cash transactions can be misused and are less secure than conducting sales through credit card terminals and the Saudi network.
There are currently more than 87,181 POS machines in use, reported Al-Eqtisadiah.


Saudi Arabia’s air defense intercepts Houthi ballistic missile fired towards Jazan

Updated 20 April 2018
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Saudi Arabia’s air defense intercepts Houthi ballistic missile fired towards Jazan

  • Earlier this week, Saudi air defenses shot down a previous ballistic missile attack by the Houthis
  • The incident happened hours after the coalition warned of a “painful” response if the Houthis mounted new attacks on Saudi Arabia

Saudi air defense forces managed to intercept a ballistic missile fired by Houthi militias from Yemen headed in the direction of Saudi Arabia’s border province of Jazan on Friday.

Earlier this week, Saudi air defenses shot down a previous ballistic missile attack by the Houthis.

Colonel Turki Al-Maliki, the coalition's spokesman, said the missile was monitored by the Saudi Air Force to have been launched from Yemen's Amran province at 10:16 p.m. Monday toward populated areas in the southern Saudi province of Najran.

The missile was intercepted before it could hit its target, Al-Maliki said.

The incident happened hours after the coalition warned of a “painful” response if the Houthis mounted new attacks on Saudi Arabia using what it said were Iran-supplied drones.

So far, the Houthis have launched over 100 missiles at Saudi cities and installations.