Saudi Arabia: New e-payment system to cut costs, cash smuggling

December 31, 2014

Jeddah, Dec 31: Major modifications will be made to the Saudi Payment Network System (SPAN) in 2015 to increase efficiency and reduce costs for banks, merchants and consumers, and counter the smuggling of cash. It would eventually also allow for withdrawals at point-of-sale (POS) terminals, and getting money from ATMs without cards.

The new system, to be renamed Mada, will connect ATMs and POS terminals throughout the country to a central payment switch that in turn re-routes the financial transactions between banks of merchants and customers.

The Saudi Arabian Monetary Agency is now testing the system. Sources indicate that it would create changes in consumer culture, including serving as an incentive to save by reducing the usage of cash, and encouraging greater spending via bank cards.

The new system will include additional services for customers, which will be implemented gradually over the coming years. These include the possibility of withdrawing from ATMs without a card, obtaining prepaid cards loaded with amounts as per clients’ request, facilitating electronic payments for purchasing tickets, and cash-back options from tellers and shops to reduce pressure on ATMs.

The system will also permit the transfer of funds to customers outside the Kingdom who carry the same type of cards, without the deduction of transfer fees. It will also allow transfers to accounts at other banks, and better verification of the income of businesses to impose fees or taxes more systematically.

Sources indicate the system will help reduce costs on banks and shops, given the significant amount of electronic trading, as well as facilitate buying, selling, and transfer of funds within and outside the Kingdom. There will be no limits on the number of times ATM cards can be used, and no usage, annual, or balance inquiry fees.

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Syrian Town erupts after Israeli forces enter Beit Jinn; heavy casualties reported

News Network

November 28,2025

Several Syrians were killed and more than two dozen others injured in Israeli strikes on the outskirts of Damascus, amid intensified incursions by the occupying regime since the fall of former president Bashar al-Assad and the rise of Hayat Tahrir al-Sham (HTS) rule.

Syrian state TV reported that the casualties occurred during an overnight Israeli assault involving helicopters and drones on the town of Beit Jinn in the Damascus countryside. The attack followed an Israeli military unit’s entry into the town, where they were surrounded by local residents, leading to gunfire and direct confrontations.

According to the report, “The occupation army’s helicopters and artillery shelled Beit Jinn, located at the foothills of Mount Hermon, resulting in 13 martyrs and 25 injured civilians.” The broadcaster did not specify the full extent of damage.

Al-Ikhbariyah Syria confirmed that the shelling coincided with Israeli soldiers entering Beit Jinn, while artillery pounded surrounding areas. The broadcaster stated that the escalation began after local residents clashed with an Israeli patrol that had infiltrated the southern town and “kidnapped” three young men.

Following a two-hour exchange of heavy fire, Israeli forces withdrew and repositioned on the hill of Butt al-Warda at the town’s outskirts.

Israeli media acknowledged that six soldiers were wounded in the clashes—three of them seriously—describing the confrontation as a “sudden ambush” that forced the deployment of reserve units and air support to secure an exit route. No further details were provided.

The aggression has fueled renewed displacement from Beit Jinn, with residents fleeing to nearby villages amid increasingly frequent Israeli attacks.

The raid came just a day after Israeli troops carried out another ground incursion into Umm al-Luqas village in Quneitra province. According to SANA, an Israeli unit in four vehicles entered the village, raided several homes, and later withdrew.

Syria condemned the repeated incursions as violations of the 1974 Disengagement Agreement and UN resolutions, urging the international community to enforce compliance and pressure Israel to halt its operations and withdraw fully.

Israel has expanded its attacks across Syrian territory following the collapse of the Assad government last year. Prime Minister Benjamin Netanyahu has reportedly instructed his forces to push deeper into Syrian territory and seize strategic positions.

Meanwhile, critics say the HTS-led interim government’s inaction and growing normalization gestures toward Israel have emboldened Tel Aviv to intensify its military operations. HTS, formerly linked to al-Qaeda, seized control of Damascus last December, formally ending Assad’s rule.

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