Judge Al Hakam said the legal order has brought much relief to judges because before it came about, they would be busy looking into thousands of bounced cheque
cases in the one-day-court which deals with minor offences.
The electronic cheque
clearing (ECC) system processes cheques
above QR250,000 on a real-time basis, whereas cheques
below QR250,000 are processed in a batch on net basis by the end of the clearing day.
It was also agreed that he could send a couple of cheques
- one post dated.
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.
The defence lawyer told the court that "aside from the fact that the partnership was ended amicably, there was no criminal intention behind the cheque
There is a small acknowledgement note between him (Habibul) and me on the payment through the cheque
that was signed by him,' he said, noting that Habibul was a client of 12 years.
A data issued by Interior Division on Wednesday revealed that during year 2016, Capital Police registered 1033 cases of cheque
bouncing under section 489-F PPC, out of which 980 challaned, 51 cancelled, 980 accused arrested and 930 persons were granted bail by respective courts.
The workshop identified proposed improvements to the current cheque
verification process, specifically how changes could be made to limit incidences of fraud and support the nation's move towards becoming a cashless society.
Moreover, UBF plans to organize further programs to confirm execution of this initiative with the aim to combat cheque
fraud in the banking industry.
A few years ago, the government made writing a bad cheque
a serious crime, and last week a former senator was sent to jail over a matter that began when she, as a Member of Parliament, wrote a series of cheques
when she did not have enough funds in an account.CHANGING FACEDuring my banking career, I saw two types of cheques
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 33.9 billion, was registered in bounced cheques
, accounting for 4.5 per cent of the total value of cheques
during the monitored period, and around 4.2 per cent of the total number of cheques
registered by the system through its images during the first six months of the year.