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The Launch of the “SARIE” Instant Payments System

Under the patronage of the Governor of the Central Bank of Saudi Arabia, Dr. Fahd bin Abdullah Al-Mubarak, the Saudi Central Bank launched the “SARIE” instant payments system.

The Governor of the Central Bank stressed the importance of the system and the qualitative leap it represents to develop the capabilities of the national payments infrastructure, which will play a major role in enhancing the Kingdom’s leadership in the financial sector, and contribute to the implementation of the goals of the Kingdom’s Vision 2030.

The Executive Director of “Saudi Payments” Fahd bin Ibrahim Al-Aqeel said: The launch of the “SARIE” payment system will enable customers to send and receive local remittances 24 hours a day with reduced fees not exceeding one riyal. A beneficiary for transfers less than 2,500 riyals