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UAE banks to tighten security
- United Arab Emirates: Monday, February 02 - 2009 at 10:14
Banks in the UAE will be asked to introduce chip and PIN technology to replace the existing magnetic strip-powered cards to reduce the risk of debit and credit card frauds, the UAE Central Bank said in a statement on Sunday. The UAE Central Bank operates the UAESWITCH service which links the ATM networks of all banks in the UAE. This enables customers of banks to use any ATM in the UAE. UAESWITCH is also connected to the ATM switch services in other GCC countries, thereby enabling bank customers to carry out cash withdrawals on any ATM in the Gulf countries.
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Jeff Florian, Senior ReporterMonday, February 02 - 2009 at 10:14 UAE local time (GMT+4)
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