Saudi Visa spending valued at $14 billion
The Regional Director General of Visa in Saudi Arabia, Len Jimson, said that the Kingdom of Saudi Arabia is the largest Visa market in the Gulf region in terms of the number of issued Visa credit cards and purchases made on the cards, reported Al-Watan . The director added that the number of Visa credit cards in the Kingdom increased to 2.13 million last December, a 28 percent climb compared with December 2000. Purchases made in the Kingdom via Visa cards also rose to $14 billion in 2001, a 26 percent climb compared with 2000.
There are now 4.8 million Visa credit cards in the six Arabian Gulf states. The value of purchases made via Visa, the world’s leading payment solutions organization, is estimated at $28 billion in these countries. — (menareport.com)
© 2002 Mena Report (www.menareport.com)