Q: I was persuaded by my friend to put money in an online trading, and he will trade on my behalf and will share the profits. He guaranteed me that he will trade very carefully and the principal amount will not decrease, but he lost all the money in one night which is AED 35000. Then he gave me 6 cheques of 5000 each payable after every third month. Kindly advise how to proceed as he is not ready to pay now.

Q: I am a trader, my clients provide me PDC cheques (post dated). As per new law if my clients bounce the cheque & I make a case against them, they won't be imprisoned, they would have to pay fine.  What about my payment, how would I recover my bill payments? Will they still be liable to pay my dues? Also, will they be under a travel ban?

Q: Dear Sir. I had been facing a problem that I lent some money to a colleague in an emergency situation, but now he ran away from Abu Dhabi without any information. I tried to contact him in his own country, but he is not cooperative. I had collected a blank cheque from him before 4 months for security. Is it valid to file a case? Because he also cheated other colleagues financially. I need your support.

Q: A colleague told us that she will put our money in stocks, assured us that we will be receiving a certain amount of earnings every month. But 4 months already passed, I did not receive anything. She is refusing to give me a cheque for my principal money. Is it possible to report her using the screenshots of messages we had? Or can a written agreement be made? If so, where can I have it done? And if I want it to be notarized, what are the requirements for notarization? I want to know if the notarized agreement can be used legally to report her. Thank you

In the UAE, cheque bounce is a very frequent problem faced by people during their span in the country. It is covered under the purview of Commercial Transactions Law, and legal implications/penalties can be financially severe and daunting for more “serious” offenses. Bounced cheque issues may arise in a variety of commercial transactions, including but not limited to, companies’ exchanges, bank loans, property rents or purchases, and individual transactions.

This Law promulgates the Federal Penal Code (Criminal Law) of the United Arab Emirates. Crimes and chastisement punishments shall be determined in accordance with the provisions of this Law and other penal codes.

The provisions of this law, promulgating UAE Civil Code, govern the civil transactions in the United Arab Emirates. The commercial transactions remain subject to the laws and regulations applicable in their regard.

The law promulgates UAE Civil Procedures Code (Civil Procedure Law) which governs civil procedures in the United Arab Emirates, including the prosecution before the courts, litigation and execution.

The provisions of this Decree by Law amend the Federal Law No. (18) of 1993 by replacing Clause (4) of Article (379) as well as Articles (600), (617), (641), (642), (643), (644), and adding new articles numbered (635) Bis, (641) Bis (1), (641) Bis (2), (641) Bis (3), (641) Bis (4), (643) Bis (1), (643) Bis (2), (644) Bis (1) and (644) Bis (2). The Decree-Law also repeals Articles (401), (402) and (403) of the Federal Law No. (3) of 1987.