Monday 30 September 2013

UAE banks could offer direct debit service by 'next week' | The National

UAE banks could offer direct debit service by 'next week' | The National:

"Banks are ready to introduce direct-debit payments for customers as early as next week.

The new system will revolutionise retail banking and herald the end of writing reams of post-dated cheques for car loans and other transactions.

“The introduction of the direct-debit system is a step in the right direction towards increasing the efficiency of our banking system,” the Central Bank said.

“Given our focus as a regulator we believe it is necessary to have a prudent, stronger and stable economy.”"

'via Blog this'

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