College of Law Organizes Lecture to Highlight the Prevalent Cheque Issue in the Banking Sector

College of Law at AU organizes a series of lectures and seminars throughout the academic year as part of its community based initiative to raise the legal awareness of the society. A lecture entitled “Problematic Partial Honoring of Cheques” was delivered by Mr. Ismail Ahmed Al Balushi, Head of the legal department at Central Bank at AU.

The lecture outlined the controversial topic of cheques and the fulfillment of their commitment in the corporate sector and especially its effects in the banking sector. Discussions to amend the law to include clauses for the fulfillment of the entire amount of the cheque or partial fulfillment, were also on the agenda. He also pointed towards the need to regulate the national banks in line with the requirements and how they will reflect positively on the national economy.

Dr. Latifa Hameed Dean College of Law at AU appreciated the lecture and emphasized the importance of law that can be easily adopted by all banks and implemented across the corporate sector.

The lecture was attended by AU students, faculty members along with Mr. Rashed Mohammed Alfandi Al Shamsi, Director of the Central Bank Branch in Dubai;  Professor Ziad Ahmed Legal Advisor at the Central Bank; Hafez Obark, Director Payment systems in the Central Bank; Prof. Khaled Omar Al-Kharji, Head of the Banking Supervision Department, Central Bank, Dubai Branch.