Saudi Arabian Bounced Checks Decline 50%, Al-Eqtisadiah Says

Saudi Arabia reported a 50 percent decrease in the value of bounced checks at the end of 2011, al-Eqtisadiah reported, citing a report released by the Saudi Credit Bureau.

The amount fell to 10 billion riyals ($2.7 billion) as of Dec. 31, from 5 billion riyals a year earlier, the newspaper said. The number of bounced checks decreased to 52,000 from 101,000, the newspaper said.