RIYADH — The Saudi Arabian Monetary Authority (SAMA) explained that the amounts of credit card transactions in foreign currency witnessed a noticeable decline during the last months of 2019.

The amounts of card transactions decreased by 25 percent in the month of November 2019 to reach about SR1.27 billion, compared to SR1.71 billion in the corresponding month of the previous year.

The amounts decreased in September and October of 2019 by about 18.7 percent and 28.3 percent, respectively, compared to the same period in the previous year.

This decline coincided with the beginning of a number of seasons and events held in a number of regions and cities across the Kingdom.

On the other hand, the amounts of Points of Sales (POS) operations in the Kingdom witnessed great growth during recent months, as it recorded a 30 percent increase in the month of November 2019 to reach 25.8 billion riyals, compared to SR19.9 billion in the corresponding month of the previous year.

The restaurants and cafes sector witnessed an annual growth in November 2019 of 54 percent, and the entertainment, culture, transportation, and hotel sectors witnessed annual growth of 30.5 percent, 25.2 percent, and 18.1 percent for each sector, respectively. — SPA