UAE Central Bank sets cheque security deadline

Banks in the UAE have started asking their customers to mention "PDC deposit" clearly when depositing post-dated cheques, in line with the central bank's requirements of security features on dirham cheques, Emirates Business has reported. The Central Bank introduced a set of guidelines on security that led to UAE banks switching to a more water-tight security regime with 14 features, which include requiring the new cheques to be thermo chromic, chemical-sensitive, solvent-sensitive and bear security ink features. According to a bank communiqué: "In case of any AED PDC issued prior to December 1, 2009, being deposited with us, you are requested to clearly evidence the word 'PDC deposit' on the deposit slip."