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Thu 23 Oct 2008 04:00 AM

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Counting on Ribao scans

Ribao Technology, which manufactures currency counters and money detectors, is displaying equipment that supports a wide range of local currencies, at GITEX Technology Week.

Ribao Technology, which manufactures currency counters and money detectors, is displaying equipment that supports a wide range of local currencies, at GITEX Technology Week.

"We provide the note-counting machines and detectors around the world, including Russia, Europe and the US but there are some local currencies in this region we're still looking to develop, including Saudi Arabia's," says Philip Lee, director of Ribao's global distributor, Suzhou Nippo Industrial & Trading Company.

"We started catering for the UAE Dirham last year and have done well so there's a good market in this area."

Lee says this technology helps keep the banking industry safe and also eliminates errors. "The detectors are crucial for preventing counterfeiting, which is a big problem in every country, including the Middle East region. Of course, compared to the US dollar and euros, the UAE dirham is less counterfeited. But we've had a lot of interest and we're hoping to have some deals signed during the show."

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