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UAE banks blank cheque abuse continues to shock the international banking community

UAE banks blank cheque abuse continues to shock the international banking community

Press Releases   •   Aug 13, 2017 17:25 BST

To many people , the idea of signing a blank cheque and handing it over to a partner in a business arrangement would seem unthinkable, even in countries where a cheque can easily be cancelled later. However, UAE banks still insist on pre-signed, blank cheques as security against loans, credit card defaults, mortgages or any other potential future debt.