Remittances between Saudi banks to be processed within 24 hours, says official

Remittances between Saudi banks will be processed immediately within 24 hours before the end of 2020, Al-Ekhbariya TV reported, citing the executive director of Saudi Payments, Fahd Ibrahim Al-Akeel.

He said that interbank transfers are currently tied to the bank’s closure at 3pm or remittances reach the following day.

Al-Akeel further added that there is another project being implemented with Riyadh Metro to add a quick response code (QR code) in shops to facilitate beneficiaries.