Abu Dhabi: Decriminalising of bounced security cheques applies only to Emiratis whose files are being handled by the Higher Committee for Debt Settlement Fund for Nationals, the committee said on Wednesday.
In a statement carried by WAM, the committee said that the fund, in line with directives of President His Highness Shaikh Khalifa Bin Zayed Al Nahyan is mandated to “settling the debts of Emiratis, whether detained or convicted, and are settling their debts according to payment schedules set by courts.
“The mechanisms set by the fund will apply only to UAE citizens, and not others, and this includes the President’s directives to decriminalise [bounced] security cheques presented by UAE citizens to banks and financial firms,” the statement added.
The committee said security cheques are still considered valid evidence. “The prosecution shall suspend all criminal cases and the courts shall dismiss all cases in connection with security cheques presented by Emiratis.”
All Emiratis detained or convicted shall be immediately released as long as prosecution receives proof that the cheques presented were issued as guarantee for their commitment, the statement said.
“The President’s directives are aimed at making all resources available to provide a dignified life for Emiratis and help them overcome all obstacles that may affect the stability of their families.”