Bank AlBilad, a Saudi joint stock company that provides Shariah-based financial solutions, has appointed ABANA Enterprises Group to replace its existing teller currency counting machines.
Reportedly, ABANA has completed the installation of Magner75 Plus across all the branches of Bank AlBilad and Enjaz. ABANA has said that Magner75 Plus offers technology that allows high-speed currency counting and reliable counterfeit detection.
The project is reported to address the goal of the Saudi Arabian Monetary Agency (SAMA) to protect the national economy against all sorts of fraud. Khaled Al Othman, director of branches, Bank AlBilad, said: We believe that with these new machines in place in our branches, we’ll be able to improve efficiency, especially in combating counterfeit notes; we will also provide assurance to our customers that they are receiving only genuine notes when withdrawing cash from any of our tellers.
