rejection

Al-Marsad newspaper: The investigator for the Public Prosecution, “Ahmed Al-Muqahm,” revealed the most important problems of dealing with “cash,” and the difference between it and banks.

Al-Muqahim explained, during an interview with the “In the Picture” program: The cash is always far away from the regulatory authorities. When there is a financial institution, the beneficiary and the transferee are known, it is easier to know its financial movement.

He added in his answer to the question of the program presenter, Abdullah Al-Mudaifer, “When should we be afraid to deal with cash?”, saying: Cash is considered an area far from supervision. There is a logical standard for using cash, so my logic is to be in a place carrying a thousand, two thousand, or 5 thousand riyals in my pocket. I spend and pay in cash. This is logical.

He continued: But someone is going to buy a car and pay 150 thousand riyals in cash, and I do not give the fees of a lawyer or anyone who has services, but I give him cash.. Here there is a question.

Al-Muqahim asked: “What is the difference between cash and banks?” He added: Banking is easy and safe, and on top of that, there is a third party that documents the process for you, meaning that even if your contract is gone, there will be a witness and something to prove it for you.

He continued: If someone gives up all these advantages and goes to collect a large sum of money, this is a question mark.