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Dubai: The amendment to the UAE’s Commercial Transaction Law has introduced several penalties to narrow the scope of writing bad cheques by individuals and corporates. In the UAE, a country which aspires to be a global trade hub with a fast-growing economy, cheque is one of the common forms of payment whether people paying rent, buying a car or any form of purchases and transactions, as it is used as a form of security. In a step to boost the power of cheques,  the UAE Cabinet  has amended certain provisions of Federal Law No 18 of 1993, the Commercial Transactions Law, including those related to bounced cheques.

United arab emiratesGulf newsWageh amin abdelazizWorld centerImage creditTransaction lawCommercial transactions lawAmin abdelazizWorld center advocatesLegal consultantsஒன்றுபட்டது அரபு அமீரகங்கள்வளைகுடா செய்திஉலகம் மையம்படம் கடன்பரிவர்த்தனை சட்டம்வணிகரீதியானது பரிவர்த்தனைகள் சட்டம்