Source: emarat alyoum

The Central Bank obliged the banks operating in the country to accept the checks that their owners wrote with two (two-digit) numbers only for the date of the current year, such as (20) and not write the full date (2020) next to the month and day, as is customary in previous years.

The Central Bank stated in a direct message to the operations departments of the banks, which the Emirates Today viewed, that from the beginning of the year 2020 it was observed that a number of banks rejected the checks in which the date of the year was recorded with only two numbers in the format (DD / MM / YY). The presence of amendments to the date of the check without referring to the date of the whole year and returning the checks to clients, which directs the Central Bank to do the following: To make customers aware of the importance of writing the date of the year from four numbers instead of two numbers that were customarily used previously, as each bank has a choice The appropriate way to achieve this goal, as well as the banks have to do Telling customers who deal heavily checks to make sure full-year history of writing from the source to him before accepting any check, and the banks not to reject checks of only two digits in the box years and deal with them as usual.

The central bank pointed to the necessity of continuing with the previous system itself in accepting checks as long as the banks did not feel the presence of fraud or the like.

The Central Bank affirmed that it will continue in the coming months to monitor the check clearing system, using its close-up photocopy, and to inform the banks of any new developments or decisions taken, calling on the banks to communicate with the central bank’s payment system support team in case of any inquiries or clarifications.

It is noteworthy that the number of checks cleared through the Emirates clearing system reached 25.8 million checks last year, amounting to 1.2 trillion dirhams, according to the latest data issued by the Central Bank.

Since 2008, the Central Bank has adopted a system of check clearing using its photocopy instead of the original check, as it is settled within one working day within the advanced payment system owned by the UAE and issued by the countries of the Arab region and at the Gulf level.

Call Now ButtonCall Us