Bank AlBilad has appointed Abana Enterprises Group Company to replace their existing teller currency counting machines as part of its initiative to boost efficiency, especially in combating counterfeit notes.

The installation of Magner75 Plus across all Bank AlBilad and Enjaz branches has been completed, said a statement from Abana.

The project addresses the goal of the Saudi Arabian Monetary Agency (SAMA) to protect the national economy against all sorts of fraud.

The Magner75 Plus offers sophisticated technology that allows accurate and high-speed currency counting and reliable counterfeit detection, the company 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”, said Khaled Al Othman, director of Branches, Bank AlBilad.

The Magner75 Plus has gained the confidence of the banking industry, and is being utilized by all Saudi Arabian banks as their first line of defence in fighting against counterfeit notes. Abana is the exclusive distributor of Magner 75 Plus in Saudi Arabia.-TradeArabia News Service