July 24, 2020
The Central Bank has ordered all banks and other check-issuing institutions to report to it the names of account holders who have more than 20 bounced checks to their names. The policy is part of an effort to tackle the growing problem of bounced checks. It wasn’t explained why the Central Bank did not just order the closure of all accounts with a large volume of bounced checks or why someone should be immune for issuing 19 bad checks.