Please wait...
GulfBase Live Support
Leave a message and our representative will contact you soon
- MSX-listed industrial firms shine following signing of Oman-India CEPA
- Visa partners with Aldar to complete first end to end voice-enabled agentic payment in the region
- UAE accelerates toward 2026 with unmatched financial and digital strength
- Qatar records 34 more LNG cargoes in 11 months up to November: GECF
- Oman, Türkiye aim to raise bilateral trade to $5bn over next five years
- NBB signs deal with Procural to boost digital procurement capabilities
- Basrec partners with Lumofy to build future-ready workforce
- Burjeel Holdings appoints Dr Shamsheer Vayalil as CEO too
- Alba contains industrial fire safely
- ADNOC secures $2bn K-Sure-backed green projects funding
08/08/2017 05:42 AST
RAKBank on Monday said it will stop clearing cash cheques starting September 1 as part of efforts to protect customers from potential risk of fraud, the bank said in an email sent out to customers.
"At RAKBank, we are committed to delivering the most secure and convenient banking experience to our customers. With this objective in mind, please note that with effect from September 1, 2017, the bank will no longer accept cheques wherein the beneficiary name states Cash," the bank said.
Accordingly, cash cheques being presented through the Central Bank clearing system from September 1, 2017 will be returned for the reason "payee name differs".
"The revised process is in line with our commitment to ensure the best interests of both our customers and the bank by the elimination of any potential risk or fraud involved in the processing of cash cheques," Geoff Stecyk, Chief Operating Officer wrote in a mail addressed to customers.
The bank recommends its customers to register for digital banking services to facilitate quick and convenient processing banking transactions including funds transfer requests.
Gulfnews
01/12/2025
Network International (Network), a leading fintech company with operations across the Middle East and Africa (MEA) region, said it has reached an agreement with leading SME bank Rakbank to buy its me
Trade Arabia
22/04/2025
RAKBank's total assets increased by Dh12.2 billion, reflecting a growth of 15.5 per cent compared to the first quarter of 2024.
The National Bank of Ras Al Khaimah (RAKBank) on Monday annou
Khaleej Times
06/03/2018
Similarly, last year the Bank signed an agreement with Sharjah Electricity & Water Authority (SEWA) to facilitate the bill payment via its Digital Banking Platform for customers in Sharjah. The SEWA
CPI Financial
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| IHC | 399.50 | 0.00 (0.00 |
| FAB | 16.50 | 0.10 (0.60 |
| EMIRATESNBD | 26.15 | 0.90 (3.56 |
| INVESTB | 0.45 | 0.00 (0.00 |
| ADCB | 14.84 | 0.10 (0.67 |
22/12/2025
Visa and Aldar have announced a strategic collaboration that marks the first live implementation of Visa Intelligent Commerce in the region, introducing end-to-end, voice-enabled agentic payment expe
Khaleej Times
22/12/2025
The National Bank of Bahrain (NBB) has signed a strategic agreement with Procural, a Bahrain-based digital procurement and tendering platform.
The collaboration supports NBB's ongoing digita
Trade Arabia
22/12/2025
Bahrain Ship Repairing & Engineering Company (BASREC) has signed a strategic agreement with Lumofy, an AI-powered talent development and competency management platform, as part of its commitment to a
Trade Arabia
22/12/2025
Burjeel Holdings, a leading super-specialty healthcare services provider in MENA, has announced that its Board of Directors has approved the appointment of Dr Shamsheer Vayalil as Chief Executive Off
Trade Arabia
22/12/2025
Aluminium Bahrain (Alba), the world's largest aluminium smelter on one site, has swiftly contained an industrial fire that broke out at a power rectiformer in the morning of December 19, a company st
Trade Arabia
Financial Information Co.
Saudi Arabia