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: Dear Sir/Madam, Greetings for the day. I have given AED 150,000 to a known person (who is dealing with flat lease), on his emergency situation. He said he will pay the amount in 3 months. As a security, I took the whole amount in cheque. Apart from that, he had given 3 cheques total for AED 36000 for 3 months. After a month he left the country and didn't come back for 6 months. Now, its been 8 months without giving me any amount and now he is here in Dubai. So, I contacted him for the money, and he told me "I don't have money, do whatever you want". So, I thought of going in a legal way, where I deposited all the cheques of AED 186,000 and it got bounced today. Please guide me through the legal process, and what is the chance of getting my money back? Now, I am seriously in a very bad situation. I am about to lose my future in the UAE because of this issue. Please help me out. Warm Regards, Dinesh

Q: Hi, I filed a cheque bouncing case in Rashidiya police station. Police caught the guy. Now, he paid his fine. How will I recover my money of AED 135000 from that guy? What is the procedure through court? If he agrees to the mutual settlement, how it will do legally? Thanks In advance

Q: From my advice, one of my clients put money in a trading company nearly 1M $ in his own account and in his 3 more sub accounts. Given the fact that a Muslim trader is forbidden by his religion to charge or earn interest, well, the solution to this dilemma is to trade the forex market with a swap free trading account. My client put money and started trading in forex. During these 4 months of trading, he had many deposits and withdrawal and during this period he lost 800$ hundred thousand in his trading style. After 4 months, when the client gave a withdrawal request of 400K $ in one a/c and 300k $ in his another a/c which all of total 700K$ withdrawal on 16th May 2019. They said in process and till now it's 29th May 2019, and my client has not received any money to his a/c.

Q: I left the UAE in December 2016. I have given a power attorney to my son. He was supposed to transfer my funds to me when I open a bank account in my new location. I moved to Canada. When I got my permanent residence and social number, I requested him to just send all money at once. At that time, NBAD became FAB and I have no access anymore. Unfortunately, my POA representative lied to me saying that it is difficult to deal with the bank as there are a lot of restrictions and all the money is safe and untouched. At the same time, he cashed out all the funds from the account. What legal action I can do now in this case? Thank you!

س: السلام عليكم، زوج جعل زوجته توقّع على شيك على بياض خلال فترة زواجهم. حدثت مشاكل بينهم ثم تطلقوا. كتب الزوج مبلغ مليون درهم لصالحه على الشيك وتم تقديمه وارتجع الشيك من البنك لعدم توفر الرصيد بحساب الزوجة. هل يستطيع الزوج أن يرفع عليها دعوى شيك بدون رصيد ويكسبها؟

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.