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Jeddah / TNS
Secretary General of the Committee on Information and Awareness in Saudi Banks, Talaat Hafeth, said that transactions made using the Mada System for sales points and ATMs amounted to SR58.6 billion this Ramadan, marking a growth rate of 8 percent compared to the previous year.
He said that the highest number of sales made in a single day was on the 25th day of Ramadan with 5 million transactions and a gross value of SR3.25 billion. These transactions were made through a variety of means, including ATMS and sales points. Further, cash withdrawals totalled SR2.46 billion while purchases reached SR970 million on this day. Talaat said, however, that electronic transactions are still less common than cash payments in general, making up only 18 percent of the total financial operations.