"The adoption of a direct debit system from accounts of consumers will be deferred with two months. That was announced by UAE Central Bank in a circular to the country’s banks.
Initially, the implementation of the system was planned to take place in mid-June. However, now it is moved to mid-August. In that way CB wants to provide more time to banks in the United Arab Emirates to cope with the various problems that have to do with the system. These issues were brought up by the banks that operate in the country via the UAE Banks Federation.
Currently UAE Central Bank is organizing different workshops and meetings with nominees and directors of systems and information from every bank in the United Arab Emirates. Through them, CB wants to update and inform banks on the all the essential things about the system. In addition, they are trying to also highlight its significance."
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