In simple words, a cheque is an order to a bank to pay a particular sum of money from the account of the issuer of the cheque, written on a specifically printed form. The issuer of the cheque is ...
In the UAE, it is legally permissible for banks to close a customer’s account if multiple checks are returned due to insufficient funds. All the banks and financial institutions in the UAE are ...
A study of inmates at Dubai Central Jail in March this year revealed that 19% of them had been imprisoned for having written cheques that bounced. And more than 60% of those inmates had been jailed ...
Arif Naqvi, the founder of troubled Dubai-based buyout firm Abraaj, and Hamid Jafar, founder of Sharjah-based Crescent Group, have reached a settlement over the $217m (AED798m) bounced cheque case ...
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