UAE Bank's misuse of Interpol as debt collectors scares debtors around the world
The arrest of a British Woman in Italy over an Interpol Red Notice for debt has caused concern amongst the international business community. The outcome of the woman’s case, for a debt of approx. €15,000 relating to a security cheque is of interest to anyone with investments or loans in the UAE. Dubai banks are using Interpol Red Notices to suit their own interests, while individuals suffer disproportionately. The UAE has decriminalised security cheque bouncing for its nation
Dilip Rahulan of Pacific Controls joins numerous other Indians on the Interpol Database
Founder of technology company Pacific Controls, a company created in Australia in 1984, Indian born Dilip Rahulan, has been found guilty in absentia of issuing bad cheques by a Dubai Court and has been given a three year prison sentence.
The case arises from an accusation concerning two cheques worth $5.9 million in total; insufficient funds to cover them were available when they were presented. This case has grown from an accusation made by a fellow Indian national and bus
British woman held under house arrest in Italy following UAE initiated Interpol notice for debt
A British national has been arrested in Italy over a €15,000 debt to a Dubai bank. The woman was held by Italian authorities for over eight hours in custody, without toilet facilities or access to water and food. She is now being held under house arrest awaiting decisions from Italian authorities as to how they wish to proceed. The debt is associated to an eight year old security cheque which was not honoured when presented. The arrest, for potential extradition, breaches UAE
Before traveling to the UAE, weigh the risks
As the United Arab Emirates intensifies its efforts to market itself as a top destination for tourists, expats and investors, the need is increasing for travelers to be made aware of the many risks they may face in the country. Travel agents, journalists, and particularly foreign embassies need to ensure that anyone considering the UAE as a destination knows enough to make an informed decision. While there are indeed many attractions in the Emirates, both for tourists and bus
Economic Volatility in UAE Increases Expat Risks
Over the coming year the United Arab Emirates is going to likely face a number of economic and political challenges. The country’s ruler, Sheikh Khalifa bin Zayed, is believed to be in poor health, and a transfer of power to the Crown Prince , Sheikh Mohammad bin Zayed, may take place this year. While Sheikh Mohammad is already functionally ruling the country, this may still cause some jitters among investors, just as the UAE improved its ranking by credit rating agency Moody
