The UAE News report: The UAE Cabinet has approved a landmark decree by amending certain provisions related to bounced cheque in the country. It will benefit both cheque issuer and its beneficiary, according to legal experts.

The Cabinet decision is related to existing ‘commercial transactions law’ and will allow the cheque drawers and payees of bounced cheques more options for reconciliation.

The new amendments will come into force in 2022 and it will include modification of some regulations dealing with bounced cheque and issuance of cheque without value. According to the decree, the bounced cheques will be treated as an executive document and will be executed directly by an appropriate judge in court.