Publication Date:
Thu, 2005-04-14 03:00
JEDDAH, 14 April 2005 — The National Commercial Bank (NCB) share reached 70 percent of all transfers sent between national banks via the Saudi Arabian Monetary Agency (SAMA) system “Swift” that is used to conduct inter-bank riyal transfers. Waleed Abdullah, NCB country head — fund transfer, said that these transfers included customer transfers, government salaries, and payments made to domestic and foreign banks.
Abdullah stated that the customer can transfer any amount in Saudi riyals to the beneficiary at another bank by debiting his account directly in a limited number of hours of the same working day.
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