The monthly statistical bulletin issued by the Saudi Central Bank (SAMA) for November 2025 showed fundamental shifts in the movement of traditional financial transactions in the Kingdom, as the values of bank clearing checks recorded a significant decline, reflecting the accelerating pace of digital transformation in the Saudi financial sector.
Record decline in transactions by individuals and companies
Official data revealed a 55% decrease in the value of bank clearing checks for individuals and companies during November 2025, with the total value settling at SAR 7.52 billion, compared to SAR 11.64 billion in the previous month of October. This significant difference indicates a growing reluctance to use paper checks as a means of payment and settlement.
Regarding the number of checks, a decline was observed in the volume of transactions, with the total number of cleared checks (for individuals and companies) reaching approximately 48,000 in November, compared to 55,000 in October. This decrease was reflected in the average value of a single check, which fell to SAR 157,550 in November, compared to SAR 212,410 in the preceding month.
Interbank clearing transactions
The decline was not limited to individual transactions, but extended to interbank clearing checks, which recorded a 14.7% month-on-month decrease. The value of these checks in November 2025 amounted to approximately 11.72 billion riyals, down from 13.5 billion riyals in October.
Regarding the number of checks between banks, 12,000 checks were recorded in November compared to 13,000 checks in October, while the average value of a single check in this category was 947,970 riyals, compared to 1.02 million riyals in the previous month.
Implications of digital transformation and its economic impact
This continued decline in reliance on paper checks is consistent with the objectives of the Financial Sector Development Program, one of the Kingdom’s Vision 2030 programs, which seeks to promote digital financial transactions and reduce reliance on cash and traditional commercial papers.
This shift is primarily attributed to the efficiency of the Kingdom's digital payments infrastructure and the increasing adoption of the instant payment system (SARIE) and direct electronic transfers, which offer greater speed and security compared to checks that require clearing time. This trend also reflects the growing financial awareness among individuals and businesses in the Kingdom, and their preference for the digital channels provided by Saudi banks under the supervision of the central bank. This contributes to accelerating the economic cycle and reducing the operational costs associated with processing paper checks.
