Banks operating in the state, who deal with them, have called for caution when writing bank checks, so that all of the check data is filled in with a clear line, and by the owner of the check book itself, stressing not to write any open checks i.e. without the beneficiary data, or the amount of the amount in letters and numbers.
This came in text messages clients received and those banks posted on their social media.
The banking expert, Amjad Nasr, said that one of the basics of using a check book is to include a specific date and the amount in letters and numbers, as well as the name of the beneficiary.
Nasr added that there are fundamental points that must be taken into account when writing the check, stressing that no check box should be left in the check for two reasons, the first so that the check is not returned, and the second so that it is not misused.
He clarified that the period of validity of the check that meets all data extends up to six months, while the open check does not carry a date or specific amounts nor the name of the beneficiary, but only the signature of the customer, and this remains valid until the writing of his data so the chances of misuse of it are very high, and cause The owner of financial problems.
For its part, the banking expert, Awatef Al-Harmoodi, said that the most prominent risk of the open check is that its owner may have signed and forgotten his order and then was presented for collection at a time when there is no balance in the account of the owner of the check, in addition to the fact that the lack of specification of the beneficiary, the amount and the date opens The field for financial and legal problems for the owner of the check.
Al-Harmoodi pointed out that open checks in commercial transactions are considered a section of fraud that some people can take advantage of to the disadvantage of the owner of the check.
Circulated checks
The latest statistics issued by the Central Bank showed that the total value of checks circulating in the market, which were presented to the check clearing system using its photocopying, recorded in the first five months of this year, 420.43 billion dirhams.
The data showed that the value of the checks presented to the clearing system increased by nearly 11.8% on a monthly basis to reach 62.79 billion dirhams, and the number increased by 16.4% on a monthly basis, compared to last April to reach 1.4 million checks.