The Saudi Central Bank (SAMA) has launched an electronic cheque clearing service through its official website, marking a significant step toward modernizing the Kingdom’s payment infrastructure and improving the efficiency of interbank transactions.
The new service introduces a fully digital process for handling cheques, from submission through settlement, enabling faster processing times while reducing reliance on paper-based procedures. It is designed to enhance accuracy, reliability, and overall efficiency in cheque clearing operations.
This initiative aligns with SAMA’s broader efforts to advance digital transformation across the financial sector, improve user experience for individuals and businesses, and strengthen transparency and operational efficiency within the banking system. The service is also expected to help lower operational costs and improve liquidity management among banks.
Industry experts view the electronic cheque clearing service as a key milestone in upgrading payment systems, reflecting the central bank’s commitment to adopting advanced financial technologies in line with international best practices, while supporting financial system stability and growth.
The launch is expected to accelerate financial transactions, enhance security standards, and contribute to a more attractive investment environment—supporting national goals to build a robust, efficient, and sustainable digital financial ecosystem.
