The Central Bank of the UAE issued a circular yesterday to instruct banks and finance companies operating in the UAE to approve the ID card issued by the Emirates ID Authority as an official document to open bank accounts and conduct individual bank transactions with no need for a passport.
According to the newspapers today, the Central Bank introduced an essential amendment to a previous circular that had stipulated that passport is the only official document to open accounts and carry out individual transactions.
The Central Bank urged the banks to use passports to open accounts and conduct transactions for individual customers who are not required by the law to obtain the ID card.
The Central Bank stresses that these amendments should be immediately effective.
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