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January 26, 2010

Bank Al Bilad Opts Abana For Replacing Existing Teller Currency Counting Machines

In line with the goal of the Saudi Arabian Monetary Agency (SAMA) to protect the national economy against all sorts of fraud, Bank Al Bilad has selected Abana Enterprises Group to replace its existing teller currency counting machines.

By CBR Staff Writer

Abana has completed the installation of ‘Magner75 Plus’ across all Bank Al Bilad and Enjaz branches. Abana claimed that the Magner75 Plus offers technology that allows currency counting and reliable counterfeit detection.

Khaled Al Othman, director of branches at Bank Al Bilad, 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.

Saudia Arabia-based Abana offers standard banking automation equipment, including currency-counting machines, point-of-sale terminals, exchange-rate boards, bundling machines, counterfeit detectors, strapping and bundling machines and time stamping machines.

Ababa also provides ATMs, currency sorting machines, teller cash recyclers, cash processing solutions, cheque processing solutions, queue management systems and self-service kiosks.

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Bank Al Bilad is Saudi joint stock company that offers business finance products, retail banking and investment banking services.

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