According to the Legal Order Law No 1 of 2017 which came into effect in December 2017, people with bounced cheques
worth less than Dh200,000 can be punished by prosecution without the case being referred to the judges, with the payment of a maximum fine of Dh10,000.
The usage of cheques
as an instrument for conducting transactions got reduced as high value transactions also are being conducted through the electronic medium, the Qatar Central Bank said in its 10th Financial Stability review.
He adds: "Due to clerical errors, both cheques
were banked and the broker's bankers didn't notice the post-dated cheque
and sent it for processing as usual.
In view of this, the CBN said it has become imperative for the bank to amend the implementation timelines of the revised NCS/NICPAS 2.0 as follows: the new and the old cheques
shall run concurrently for 17 months from the above-mentioned implementation date, after which the old standard would be phased out; All cheques
ordered after September 1, 2019 must conform to the new standard.
Muscat: Royal Oman Police (ROP) has called upon everyone to help prevent fraud by only accepting certified cheques
. A certified cheque
is one which is verified by a bank, guaranteeing that there are sufficient funds in the account to pay the agreed amount.
Summary: Court records showed that the defendants intentionally wrote two bad cheques
for their former business partner.
A: Habibul then instructed me to issue cheques
to among others, his wife and his kids.
currently expose banks, businesses and customers to financial, reputational and legal risks.
figure By BANKELELE This week we saw a story about Namibia phasing out paper cheques
. A leading bank, FNB, reminded its customers that they have untill June 2019 to exhaust their cheque
leaves, after which they will no longer be acceptable in banking.
Director NAB Amjad Majeed Aulakh was the chief guest and gave away cheques
amounting to Rs 164.879 million to the representatives of different government and private departments.
AED 755 billion worth of cheques
have been handled by the UAE's Cheque
Clearing System during the first half of the year, according to an announcement by the UAE Central Bank.