Banks must have a viable alternative to cheques before a full decriminalisation can become reality, says the head of the banking industry trade body.
Abdul Aziz Al Ghurair, the chairman of the Emirates Banks Association, said any moves to ease criminal penalties for expatriates whose cheques bounce should be phased in to allow a period of adjustment for consumer lenders.
"There has been thinking in the UAE of decriminalisation of postdated bounced cheques across the board, but you cannot do that without finding an alternative instrument," he said.
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