No solution to Causeway jam in sight

Updated 28 February 2014

No solution to Causeway jam in sight

The traffic police have not been able to reduce the congestion on the King Fahd Causeway linking Saudi Arabia with Bahrain during holidays and other peak times, a source in the department said Monday.
The source said the traffic department was genuinely concerned about the situation. It has raised the issue with other government agencies.
"Many proposals and suggestions were made to higher authorities to find a radical solution to this problem. If they are approved, they will play a significant role in solving this problem," he said.
Over 239 million commuters have used the causeway since it was opened in 1986 until the end of 2012. In 2012, over 18 million people used the bridge.
He said there is usually traffic congestion on the bridge from about 2 p.m. until 10 p.m.
"During holidays, special events or Eid, the traffic department gets additional police cars to regulate the movement of vehicles on the causeway."
During these peak times, traffic officers issue around 90 fines a day, including 20 for parking violations.
He said that the traffic police also have a problem with illegal taxi drivers transporting people between the two countries. Officers arrest on average six people a day for these violations.
He said the traffic fines issued to Gulf Cooperation Council (GCC) citizens are sent to their countries where they have to pay them. An electronic system for fines would soon link all GCC countries, which would help streamline this process, he said.
Arab News reported last month that the Saudi Ministry of Interior is considering a joint border control system with Bahrain to reduce congestion on the causeway. This would entail a traveler stopping only once when entering or exiting both countries.
This came in the wake of the National Anti-Corruption Commission (Nazaha) accusing the Passport Department and the Eastern Province traffic authority of not having sufficient personnel on the bridge to prevent bottlenecks. The traffic police had rejected the accusations and blamed the Passport Department for the delays.
Maj. Gen. Sulaiman Al-Yahya, director general of the Passport Department, said a ministerial team has been studying procedures between the United Arab Emirates and Oman that eased commuting by road between the two countries.

Fraud alert over cryptocurrency falsely linked to Saudi Arabia

Updated 21 August 2019

Fraud alert over cryptocurrency falsely linked to Saudi Arabia

  • The website of a cryptocurrency company is promoting what it calls the CryptoRiyal and SmartRiyal
  • The Singapore-based company uses the Saudi emblem of two crossed swords and a palm tree

JEDDAH: Fraudsters are trying to lure victims into investing in a “virtual currency” with false claims that it is linked to the Saudi riyal and will be used to finance key projects, the Saudi Ministry of Finance warned on Tuesday.

The website of a cryptocurrency company in Singapore is promoting what it calls the CryptoRiyal and SmartRiyal, using the Saudi emblem of two crossed swords and a palm tree. Its “ultimate goal” is to finance NEOM, the smart city and tourist destination being built in the north of the Kingdom, the company claims.

“Any use of the KSA name, national currency or national emblem by any entity for virtual or digital currencies marketing will be subject to legal action by the competent authorities in the Kingdom,” the ministry said on Tuesday.

The fraudsters were exploiting ignorance of how virtual currencies work, cryptocurrency expert Dr. Assad Rizq told Arab News.

“A lot of tricks can be played,” he said. “Some of these companies are not regulated, they have no assets, and even their prospectus is sometimes copied from other projects.

“They hype and pump their project so the price goes up. Inexpert investors, afraid of missing out, jump in, which spikes the price even higher. Then the owners sell up and make tons of money.

“Cryptocurrencies are a risky investment for two reasons. First, the sector is not yet fully regulated and a lot of projects use fake names and identities, such as countries’ names or flags, to manipulate investors.

“Second, you have to do your homework, learn about the technology. And if you still want to invest, consider your country’s rules and regulations.”