UAE will introduce a direct debit system

The payment culture in United Arab emirates will change as of June 15 when the Central Bank will introduce a direct debit payment system through which customers will be able to make regular, automatic payments from their bank accounts towards mortgage loans, credit card payments and personal loan installments. Bankers warned that the UAE must press ahead with plans for a credit bureau if the direct debits are to fully replace security cheques carrying criminal liabilities for bounced payments.