Records were broken with the 62s from Schauffele and Lowry being the lowest rounds in the history of the event
sports3 hours ago
A legal consultant at the bank said, the discrepancy came to light when the bank claimed its credit card dues from an Egyptian woman customer who confirmed having paid them.
She confirmed that she had settled Dh4,800 as part of her dues to a firm which had a contract with the bank to collect the credit card loans owed to the bank on behalf of customers overseas.
The bank administration then launched an internal probe and found out that the sum was indeed paid.
Later, the administration on making a complete inventory discovered that the firm had streamed more than Dh1 million worth loans over a period of time stretching from 2009 to 2011 but the money was not deposited in the bank’s account.
A panel was formed to follow up on the matter and met with the accused along with the other bank staff. During the meeting, the accused admitted that he had collected the Dh1 million, although he was not authorised to do so according to the bank internal regulations.
A manager at the branch told the prosecutor that the defendant was in charge of the section of collecting pending overseas loans.
The bank was dealing with outlets in countries like Lebanon, Jordan, Syria and Iran to collect the loans from credit card holders.
After the designated firm collected the loans, they were sent through money exchange offices to the bank.
The accused received the sums and embezzled more than Dh 1 million worth of loans instead of depositing the money in the bank’s account.
Records were broken with the 62s from Schauffele and Lowry being the lowest rounds in the history of the event
sports3 hours ago
Why it is important to shed light on this overlooked chapter of womanhood
health3 hours ago
To ease the compliance burden, several exemptions and relief measures have been introduced
business3 hours ago
Going forward, investors have been advised to take a cautious approach after yellow metal hit nearly a record high recently
markets3 hours ago
Hill, who was born in the UAE, tied second in the local qualifying rounds in Alabama
sports3 hours ago
Central bank committee has set up several guidelines
business3 hours ago
This follows the directives of President Sheikh Mohamed to allocate $15 million in aid to the country
uae4 hours ago
Brij Bhushan Sharan Singh is not contesting a seat in the ongoing elections after he was denied a ticket by the ruling Bharatiya Janata Party
sports4 hours ago