أسئلة وأجوبة
How can I release funds from my accounts after being frozen for a year by the Central Bank?
Hello,
It's been more than one year since all three bank accounts in Dubai were frozen suddenly without any notice.
When I started to inquire regarding it I got the answer that my bank accounts are frozen by the Central Bank of the UAE. Although accounts are debit-frozen only.
I had some heavy transactions in one of my accounts and there is a huge amount stuck in my bank accounts.
I am willing to hire a lawyer or consultant who can assist me in releasing the funds from my accounts.
I am currently out of the country but I still hold UAE residency.
Please let me know if anyone can help me with this.
Dear Questioner,
Thanks for your inquiry.
According to UAE law, the Central Bank has the authority to freeze bank accounts if there is suspicion of illegal activities or if there is a court order. The bank must inform the account holder of the freeze and the reason for it within 48 hours.
If your accounts have been frozen for more than a year without any notice or explanation, you have the right to seek legal assistance.
You can hire a lawyer or consultant who specializes in banking and financial laws to help you release your funds.
The first step would be to contact your bank and request an explanation for the freeze. If they are unable to provide a satisfactory answer, you can file a complaint with the Central Bank.
They have a consumer protection department that handles such complaints.
If the Central Bank is unable to resolve the issue, you can file a case with the UAE courts. Your lawyer can assist you with the legal procedures and represent you in court.
It is important to note that the freeze on your accounts may be lifted if the bank or the Central Bank finds no evidence of illegal activities.
However, if there is a court order, the freeze may continue until the case is resolved.
In any case, please do not hesitate to contact us by email to seek legal assistance to ensure that your rights are protected and to increase your chances of releasing your funds from the frozen accounts.
Greetings,
