I just spoke with someone at the Dewan's Office in Abu-Dhabi this morning and the gentleman I had spoken with said that they had still not received any money to pay off the debts of the Jailed UAE citizens which were either released long ago (pardoned) or never even jailed. One can only wonder how long this will go on for? There are many victims out there from Check Fraud that are awaiting justice to be served. I have waited roughly 7 years and of all these pardons over the last 7 years along with announcements of debts being paid off none to my knowledge have been paid off..
Editors: Please update us on this story of debts being paid off and those that were pardoned.
after 4 years of suffering from Bank and financial Pressure , Foreigners in UAE , smiled .
but within 2 days government said this law will cover only Emirates (Local People) .
I can not understand , when i took 200,000 AED loan and i paid more than 75% of loan amount , Why the Bank still presenting My security Check with amount of 200,000 AED .
Some of The banks collected Blank checks from Defaulters and the are filling with their desire amount .
Government Should help The business man to Re-Structure Their Companies and Pay Back remain amount of loans to The bank .This is a logic Rule and should cover both Emirates and foreigners .
it will help to remove pressure from thousands of human life in UAE and it will help UAE economy as well .
no Benefit for anybody to keep defaulters in Jail for 3 years .!!!
All these statements are not more than hopes and predictions that might never come through .
Retarded laws can only be corrected with proper measures by issuing new modern laws that recognize and respect article 11 of the international covenant for civil rights which clearly prohibit jailing any person due to his inability to fulfill contractual financial obligation , and that in reality can only be made by issuing the new long waited bankruptcy law , the new penal code and the new Civil trial practice .
Such solution requires full , clear and drastic measures which so far the will for it does not exist nor available in the foreseen future , therefore half initiative and keeping things in the grey area or requesting personal intervention of police, public prosecutors to indentify or classify whether the cheque are given for installment , guarantees, rent or payment of goods will never be solution for the existing disaster caused by the same practice.,
"There is no relaxation or debt waiver for expatriates..." WHY?!!
Andy
Thursday, 3 January 2013 8:52 PM
-
USA
In America only Americans are entitled to receive US benefits such as unemployment s checks,food stamps and social security and in Dubai we have something like a get out of jail for free pass like in the game of Monopoly which only applies to locals. In the UAE this is called a pardon or basically a blind eye for financial crimes committed. Everyone needs to get money one way or another so to keep hard crime down such as robberies and real theft from retailers or homes they pretty much turn a blind eye to financial theft and set aside a certain amount of money to supposedly bail these people out. An indirect way of giving money to the locals or sharing money from the wealth of the UAE.
as far as I understand this is only for cheques given as security to banks and financial institutions as collateral to loans.
In "normal" business dealings a bounced cheque is as far as I understand still a criminal offence.
Certainly a laudable step in the right direction but I guess further clarification is needed as to where exactly this new decree is valid and where it isn't.
It is about time that we here in the UAE not only decriminalise bounced cheques but get rid of the whole cheque system. It's been outdated and abolished by other modern countries decades ago.
This applies only to Security Cheques and not post-dated cheques for installment payments or other commitments.
rick
Monday, 28 January 2013 11:35 AM
-
Dubai
I gave 4 cheques (25,000 each, total 100,000) for a apt in Dubai. After 5 months, I left due to issues in the building. I told the landlord that I had to return to England. I never returned back. I left my furniture and told him he could keep the 5000 deposit. Now nearly 7 months later there is a police case against me for the two remaining bounced cheques. I told the landlord I was willing to pay him back in installments but he refused point blank saying he wanted a total cash settlement in 1 payment. The court case is in 3 weeks. I feel I am innocent but did things the wrong way. I want rectify the situation but can only afford to in installments. What prison time would I be looking at? Is there any way out of this situation? I have an apt, a good job.....
Sooner or later each expat will have to pack and go back home; the UAE is not the surrogate mother of any foreigner, the UAE takes care of its own populace... more
The enlightened view of some of the commentators(the ones from Pakistan especially) bring me much joy and happiness. We are all fairly clear about the... more
Thursday, 23 May 2013 4:43 PM
- Maulana Abdul Fazl
To be fair, it is not that difficult to mix Dakar and Dhaka up. Those travelling to the US for the first time may very likely get confused between Santa... more
As much as I love the UAE, this will be a problem for them in the future. Lets look at this from any democratic Country on Earth. If I decided not to turn... more
Sooner or later each expat will have to pack and go back home; the UAE is not the surrogate mother of any foreigner, the UAE takes care of its own populace... more
Let me put the entire issue in perspective. There are massive traffic problems on the roads of Kuwait, where Kuwait can boast high road fatalities and... more
As much as I love the UAE, this will be a problem for them in the future. Lets look at this from any democratic Country on Earth. If I decided not to turn... more
Sooner or later each expat will have to pack and go back home; the UAE is not the surrogate mother of any foreigner, the UAE takes care of its own populace... more
Arabian Business Power 500 2013 - Top 5 from Banking & Finance »
Features & Analysis
Why Africa is luring Gulf bond investors
Promise of high returns is tempting cash-rich Gulf Arab bond...
Dubai may get creative to ease looming debt hump
Emirate seen using wide range of strategies from asset sales...
New Abu Dhabi financial zone to challenge Dubai
For a decade, Dubai has been the MidEast's top financial centre...
Most Popular
Most Discussed
Are there too many Brits in the UAE?
Sooner or later each expat will have to pack and go back home; the UAE is not the surrogate mother of any foreigner, the UAE takes care of its own populace... more
Friday, 24 May 2013 2:01 AM - SaeedBahrain MPs vote to ban pork in kingdom
The enlightened view of some of the commentators(the ones from Pakistan especially) bring me much joy and happiness. We are all fairly clear about the... more
Thursday, 23 May 2013 4:43 PM - Maulana Abdul FazlTurkish Airlines says sorry for flights mix-up
To be fair, it is not that difficult to mix Dakar and Dhaka up. Those travelling to the US for the first time may very likely get confused between Santa... more
Thursday, 23 May 2013 11:29 AM - BilalDubai labourers stage rare strike for more pay
As much as I love the UAE, this will be a problem for them in the future. Lets look at this from any democratic Country on Earth. If I decided not to turn... more
Wednesday, 22 May 2013 11:56 AM - Ty SayAre there too many Brits in the UAE?
Sooner or later each expat will have to pack and go back home; the UAE is not the surrogate mother of any foreigner, the UAE takes care of its own populace... more
Friday, 24 May 2013 2:01 AM - SaeedKuwait to start medical care segregation on June 1
Let me put the entire issue in perspective. There are massive traffic problems on the roads of Kuwait, where Kuwait can boast high road fatalities and... more
Tuesday, 21 May 2013 1:28 PM - AbdullahEmirates defends no staff bonus, despite huge profit
Top managment greed is one of the main reasons that caused the 2008 crises. hope i delivered the message..
Friday, 24 May 2013 2:01 AM - MYTmore
Dubai labourers stage rare strike for more pay
As much as I love the UAE, this will be a problem for them in the future. Lets look at this from any democratic Country on Earth. If I decided not to turn... more
Wednesday, 22 May 2013 11:56 AM - Ty SayAre there too many Brits in the UAE?
Sooner or later each expat will have to pack and go back home; the UAE is not the surrogate mother of any foreigner, the UAE takes care of its own populace... more
Friday, 24 May 2013 2:01 AM - Saeed