Questions & Answers
Questions & Answers
3 available 3 • View allRecovering an amount of money from an exchange services company

2
Q: I have initiated a transfer of $150,000 in June 2020 through reputed exchange services in the UAE to my stockbroker in the USA, however, the transfer was rejected due to some administrative rule changes by the broker.
It has now been over 2 months of continuous follow up with the exchange service company, yet my funds have not been returned, which is causing me obvious distress and considerable financial opportunity loss.
I registered a complaint with the Central Bank, however, no feedback has been received to date!


Aug 27, 2020
422
Refund of money transferred
1
Q: In July 2016, I sent a big amount of money by telegraphic transfer within the UAE when I opened the account with UT market.
The company shut down at the end of last year with all money invested.
I have the Agreement with me and a copy of the Application for the telegraphic transfer.
Any chance the money can be returned?
Thank you,
Mary

Nov 19, 2017
348
Claiming money invested with a person who ran away
1
Q: I invested in some shop with 40000, but the person ran away with that money.

Nov 26, 2018
348
Laws & Regulations
2 available 2 • View allFederal Law No. (5) of 1985 On the Civil Transactions Law of the United Arab Emirates 96
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.
Dec 15, 1985
148521
Federal Law No. (18) of 1993 Issuing the Commercial Transactions Law 19
This Law applies to merchants, as well as to all acts of commerce carried out in the UAE by any person even though he be not a trader. Commercial matters regarding which specific Federal laws are issued shall be subject to the provisions of such laws, and to the provisions hereof which do not contradict with said laws.
Sep 7, 1993
33057

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