Abu Dhabi
A total of 12.922 million cheques worth Dh643.7 billion were handled by the UAE Clearing Cheque System during the first five months of 2017, according to the UAE Central Bank data.
A total of Dh28.9 billion worth of 546,000 cheques were bounced from January through the end of May, accounting for 4.5 per cent of the cheques’ total value, and 4.2 per cent of the total number of cheques handled by the electronic image-based cheque clearing system during the first five months of the year, WAM reported.
As per the statistics, the total value of dishonoured cheques during the first five months of 2017 fell by 7.3 per cent to Dh2.3 billion, against the same period last year during which the total value hit around Dh31.22 billion.
