Ashe Institute of governance and innovation, an affiliate of American Harvard University, plans to conduct a study on Sadad (Settlement) system for payment in Saudi Arabia. The Director of Banking Technological Department at Saudi Arabian Monetary Agency( SAMA) Eng Abdulmalek Bin Abdulrahman Al-Sheikh and Dr Khalid bin Othman Yahya, Advisor at Harvard University and expert in international administration and development held here today a press conference during which Eng Abdulmalek welcomed Harvard University selection of Saudi Sadad system for payments as one of the most innovative governmental initiatives in the region. He added that the system of payment offers two services of electronically showing and settling bills as well as advance payment without the presence of bills for government bodies and private banking across all banking channels in Saudi Arabia. -- SPA
