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UAE delays roll out of new cheque rules

The UAE central bank has delayed until further notice the implementation of rules regarding the use of new machine readable cheques from January 1, The National has reported. A flood of enquiries from concerned customers about the changes prompted the regulator to put back the deadline. "This decision has been made to help customers," a central bank official said. "A revised cut-off date for handling cheques without security features will be released in the near future," the central bank said. "Until then, banks should revert to accepting all cheques presented to them."