Saudi Arabia- Bounced checks total SR14b

24 Jun 2010

(MENAFN – Arab News) The number of bounced checks in 2009 reached 158,000 with a total amount of SR14 billion, Nabeel Al-Mubarak, director general of Saudi Credit Bureau (SIMAH), said Wednesday.

Addressing a meeting in Sharqiya Chamber, he said about 76 percent of those checks were issued by companies. He said SIMAH was instrumental in reducing such checks by 26 percent.

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