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The UAE Central Bank has advised residents to use contactless and mobile payments to protect themselves from coronavirus and be on alert about anything suspicious because fraudsters can take advantage of the situation. Coronavirus outbreak: All the latest updates)
In addition, the UAE banks have also advised customers to avoid visiting branches and rather use digital platforms for their transactions.
"The Central Bank strongly encourages banking customers to take advantage of digital and online banking services as a measure to protect the health and safety for UAE residents. Use contactless and mobile payments. You should be able to use a contactless payment device in most shops, which means you don't have to touch the payment terminal or exchange cash. Or link your debit/credit cards to your smartphone or device to make mobile payments," the Central Bank said on Thursday.
It also advised residents to stay alert against fraudsters who may try to take advantage of the current situation. "So make sure you're on the lookout for anything suspicious, including messages about Coronavirus claiming to be from your bank. Remember, we'll never ask you for your PIN or password or ask you to move money from your accounts," it said.
It said customers can use digital platforms of their respective banks to process their banking transactions, such as personal details update, money transfer, account balance inquiries, utility bill payments, checkbooks request, money withdrawal, and deposit.
"We and the financial institutions stand strong to serve the community through multiple digital channels and contact centers. Banking operations thus far continue to operate normally with some banks effectively implementing remote working. We continue to monitor the situation and will take necessary measures as needed," said Mubarak Rashed Al Mansoori, Governor of Central Bank of UAE.
AbdulAziz Al Ghurair, Chairman of UAE Banks Federation, said the worldwide outbreak of Covid-19 has created significant challenges to society but the UAE banking sector has not seen any significant pressure at this stage.
"To maximise efficiencies and reduce the spread of the virus we encourage all customers to use digital channels to conduct their banking. The safety and well-being of customers and employees is our highest priority, and we must remain vigilant during these times of heightened concern. As an industry, we are well-positioned to face any obstacles that lie ahead, and help the economy navigate through the temporary difficulties we are facing," he said.
RAK Bank also recommend its customers to replace visits to branches or offices with alternative channels available to use remotely at their convenience.
-waheedabbas@khaleejtimes.com
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