DLD and Emirates NBD ink deal to replace rent cheques with online payments ...United Arab Emirates

Dubai’s real estate proposition could benefit following a partnership between the Dubai Land Department and Emirates NBD. In the near future, rental cheque payments will be automated and digitised via the Central Bank of the UAE’s Direct Debit System (UAEDDS), according to the DLD. According to a statement, the move will support the rental market and is aligned with the Dubai Government’s vision for paperless payment ecosystems, as well as with the Dubai 10X initiative. “The real estate industry in the UAE is one of the best and most competitive in the world, and as part of our mission to present a regulatory environment in service of tenants and property owners, we have partnered with Emira

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