DOHA - A new electronic machine to detect fake Qatari riyal (QR) currency notes has been introduced in the local market.
The Japan-made machine has been specially programmed to read the new QR notes, say its distributors and after-sales service providers in Doha, Express Business Machines Company Limited, which is part of IET Group of Companies.
The Group is headquartered in Dubai and has offices across the region, including Pakistan, Sudan, Yemen, Abu Dhabi and Doha, among others.
The machine manufactured by Japan's famed Glory company, GFB-955, is a desktop bank note counter and has an in-built system that guarantees protection against counterfeit QR currency notes.
The earlier versions of the machine were used to detect the old QR currency notes which have since gone out of circulation recently.
According to market sources, banks and exchange houses sometimes do come across counterfeit QR500 and QR100 currency notes. As soon as GFB-955 comes across a fake QR currency note while counting a bundle, a buzzer makes a sound and the machine immediately stops working.
"The Qatar Central Bank (QCB) has tested the machine over a few weeks and is satisfied with its quality," says Salahuddin Yasin, CEO of IET Group, who was here on a brief working visit.
He told The Peninsula in an interview on Monday that the machine is moderately priced and demand has been soaring in the local market. Not only banks and exchange houses, but sales outlets are also making enquiries.
"Our Doha office (Express Business Machines) can on request install the machine in a premise and show how it works," said Salahuddin. With him was Abu Yusuf, Doha-based sales manager of Express Business Machines.
Also in demand locally and elsewhere in the region are a cheque deposit machine and one that automatically folds a letter, inserts it in an envelope and seals it, he said.
Abu Yusuf said that the cheque deposit machine can handle up to 30 cheques at a time and gives away a receipt and a photocopy after the transaction is over.
"This machine is ideal for banks," said Salahuddin. Banks here should talk to exchange companies and install these machines in their premises, he said.
The mailing system machine can handle up to 16,000 letters-envelopes per hour. Qatar Telecom (Qtel) has already installed one at its premises. The machine is ideal for mass mailing for companies like Qatar Post and listed companies which have to mail dividend cheques, said Yusuf.
Express Business Machines also distributes and provides after-sales service for a number of other such machines, Yusuf said.
© The Peninsula 2006
