Abu Dhabi-Mubasher: The UAE’s bounced cheques rose 37.7% year-on-year (y-o-y) in the first half of 2016, according to statistics released by the UAE Central Bank.
The value of bounced cheques totalled AED 37.6 billion in H1-16, compared to AED 27.3 billion in H1-15.
Bounced cheques represented 4.7% of the total 16 checks worth AED 803 billion submitted for clearing.
A total of AED 132.8 billion was withdrawn from the central bank in the first six months of 2016, while cash deposits reached AED 125.25 billion.
