The United Arab Emirate Central Bank issues a statement that banks in the country will be moving to chip and PIN technology to replace mag-stripe cards, according to AME Info. The switch to smart cards lowers the risk of fraud.
The UAE Central Bank operates the UAESWITCH service that links the ATM networks of all banks in the country. This enables bank customers to use any ATM in the UAE. UAESWITCH is also connected to the ATM switch services in other Gulf countries, enabling bank customers to carry out cash withdrawals on any ATM in the Gulf countries.
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