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UAE says bouncing cheques still a crime for expats
- United Arab Emirates: Saturday, January 05 - 2013 at 05:11
The UAE government has said expats still risk being imprisoned for bouncing cheques, as a government order which decriminalises the offence applies only to local citizens, Reuters has reported. The UAE's tough penalties for defaulting on cheques were relaxed for local citizens in October after a royal decree was issued. A debt settlement fund launched by the government is "concerned only with settling all the debts of only Emirati citizens," the government said. "The relevant mechanisms set by the fund for this purpose apply only to relevant UAE citizens, and not others, and this includes the directives...to decriminalise security cheques presented by UAE citizens to banks and financial firms," it said.
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