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Tuesday, 25 January 2011

FNC to debate laws that jail bounced cheque offenders - The National

The UAE must reconsider jailing offenders who bounce cheques and instead restrict their ability to carry out bank transactions, a member of the Federal National Council's (FNC) finance committee says.

Yousef al Neaimi, an FNC member from Ras al Khaimah, said that after a set number of bounced cheque violations, the individual should lose his banking privileges and the Central Bank should bar him from setting up new bank accounts elsewhere.

"It is a civilised deterrent," he said.