Wednesday, 18 November 2009
Bouncing a cheque in Dubai
Adding to the story below is the very cautionary tale of an aquaintance who lived and worked in Dubai in the early 2000s. This person returned to their home country and remained there for 6+years. They've just returned to the UAE and started a new job. During the visa check process the authorities have discovered that the person bounced a cheque during their first stint here. The person was arrested on the spot and it turns out that a case had been brought against them in Dubai Court years ago and they'd been found guilty in absentia. The sentence handed down at the time was a 6 month jail term and the person started serving that sentence this week, starting the day after their arrest. Be warned, don't bounce a cheque in the UAE..all the rumours are true.
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Can't help commenting - if an individual in Dubai tried to re-negotiate terms of his/her cheques (an IOU) or sought an extension of payments - just like Dubai World is trying to with their bondholders, the principals at Dubai World would be thrown in prison, no questions asked.
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