The prospect of going to jail for being unable to pay debts is incentive in itself for skipping the country. If someone can continue to work and pay off their debts, with a travel ban in place, their creditors have more chance of receiving the money owed to them.
How is decriminalizing of issuing of bounced cheques going to help anyone?
If someone is in jail for bouncing a cheque they can't work and earn money to pay back their debt.
And what happens if he take the next flight out with my money? Like it frequently happens in dubai.
How is decriminalizing of issuing of bounced cheques going to help anyone?
If someone is in jail for bouncing a cheque they can't work and earn money to pay back their debt.
And what happens if he take the next flight out with my money? Like it frequently happens in dubai.
How is decriminalizing of issuing of bounced cheques going to help anyone?
If someone is in jail for bouncing a cheque they can't work and earn money to pay back their debt.
Could it really be?
[url=http://www.arabianbusiness.com/uae-approves-bankruptcy-law-decriminalising-bounced-cheques-598782.html'>link[/url'>
I heard this on the Business Breakfast this morning. A guy from the DIFC courts was talking about it
My understanding is that it refers at present to companies and not regular consumer customers ( Like you and I)
They also said the current law was based on the Egyptian law of bouncing a cheque and the Egyptians had followed the French laws ( Something i didnt know)