UAE sees 25% drop in bounced check value

07 August 2010

According to data from the UAE central bank, the value of bounced cheques in the country had declined in the first four months of this year, despite a rise in their number during the same period. The total value of bounced cheques fell 25% to Dhs18.6bn compared with Dhs24.8bn in the corresponding period of 2009, while their total number rose more than 8% to 588,570 during the period from 544,196 cases of returned cheques registered in the same period a year earlier.

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