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FINANCIAL NEWS
UAE 2011 bounced cheque cases drop to 3,760
17 Oct 2011
(MENAFN) Dubai Police’s Criminal Investigation Department’s (CID) Director-General, Brigadier Khalil Ibrahim Al Mansouri, said that in 2011, the number of bounced cheque cases against nationals fell to 3,760 from 5,623 in 2010, reported Emirates 24/7.
Al Mansouri added that the decline resulted from the Dubai Police’s new system which allowed debtors to take a one-month grace period in order to clear their cheques.
He also said that debtors without jobs would be given an opportunity to find work and pay back the loan, moreover, the police department in the emirate would give them ‘good conduct’ certificates to facilitate the job search process.
It is worth noting that Dubai Police developed a software that will electronically transfer bad cheque cases from banks to police stations directly, which will save trouble and effort for bank representatives.
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