Picture for illustration purposes only.
PHOTO BY ARCHIVE
DUBAI – Two banks in the UAE have suspended the accounts of customers without Emirates ID, according to guidelines by the UAE Central Bank.
On Wednesday (March 20), Emirates NBD and Commercial Bank International (CBI) confirmed the suspension of accounts of customers who failed to submit copies of their Emirates ID before the deadline.
“In accordance with the Central Bank of UAE’s guidelines, CBI introduced service disruption consequences for non-compliance. Debit and credit cards, including ATM cash withdrawals, were suspended post the February 28 deadline,” said Shaker Zainal, head of retail banking at CBI.
At Emirates NBD, a “small percentage of customer accounts have been suspended in line with the requirements”, said Suvo Sarkar, senior executive vice president, head of retail banking and wealth management.
The executives said that under the Central Bank regulation, the suspension remains in force until the customer updates their details with their respective banks.
The Central Bank, in a circular issued in November, urged banks and financial institutions to ensure that customers update their records before February 28, 2019.
According to the directive, customers who failed to do so will be unable to withdraw money from ATM and will not be able to do transactions with their debit and credit cards.
The UAE Central Bank, however, said the suspension of ATM cards would not prevent customers from withdrawing cash from an account directly at a bank’s branch counter. GAD/Expat Media
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