UAE partly decriminalises passing bad cheques
New law meant to encourage recovery, justice and more modern forms of payment
Authorities in the United Arab Emirates, including the central bank, announced the coming implementation of legislation that repeals criminal penalties for transferring unfunded cheques on November 1.
From the start of 2022, passing cheques with insufficient funds will only be an offence “in cases of bad faith and other cheque crimes”, including forgery.
The new regulations bring a September 2020 amendment to federal law into effect. The central bank’s governor, Khaled Mohamed Balama, said the
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