International Finance

Q1 2018 saw cheques bounce worth US$4.2bn in the UAE

cheques, UAE, UAE Cheque Clearing System, bounced cheques, UAE Central Bank
The Central Bank of the UAE reports 7.168mn cheques worth AED351.1bn were handled by the UAE Clearing Cheque System

During the period of January to March, cheques worth AED15.7bn bounced, according to Emirates News Agency. On an estimate, the bounced cheques accounted for 4.3% of the total value.

A report on Arabian Business reads “March registered the highest amount of cheques processed through the UAE Clearing System at AED124 billion, followed by January at AED117.7 billion and February at AED109.3bn.”

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