Dubai Department of Economic Development chief says new initiative to happen 'very soon'.
The UAE will introduce a new initiative in relation to bounced cheques in the next few weeks, the deputy director of Dubai’s Department of Economic Development said on Monday.
“You will hear very soon a new initiative regarding that in the next two to three weeks,” Ali Ibrahim, deputy director of Dubai’s Department of Economic Development and managing director of emcredit, Dubai’s official credit information company, said at a media roundtable in Dubai.
“The bounced cheque is an issue with the federal and the emirates, it is not only Dubai. We are working on that issue and we have had discussion,” he added.
In March, it was reported that Dubai was planning to introduce an online system allowing banks to file cases of bounced cheques.
Major General Khamis Mattar al Mazeina, deputy chief of Dubai Police, said that the system could eventually be brought in across the UAE.
The online system will cut police paperwork and speed up the collection of information, the paper reports. But, it will not replace investigation work which will continue to be carried out by police officers.
According to the report the number of bounced cheque cases rose between January and May last year to about one in 18 of the 9.75 million issued.