Credit Card Security Cheques
Is there any rules by Qatar Central Bank that bans from taking blank security cheques for issuing credit cards?
I have seen this link in Gulf news about the same in the UAE.
http://gulfnews.com/news/gulf/uae/general/uae-banks-violating-blank-cheq...
Read carefully, before commenting.. I had mentioned even if the salary is transferred, still QNB does not issue cards unless the company is listed with the bank, this is not the case with any other banks in Qatar or been instructed by the Central Bank. Hope you understood, if not also, no problem.
When the salary is transferred and if someone vanishes without paying, the bank has all the right to catch a person from his home country or from any airport while traveling.
Dear I.achayan:
Please go to the QCB website and open the Instructions to Banks and read the following on page 153 of the 12th edition of these Instructions to Banks issued by QCB:
"Customers and Guarantors should never sign any blank sheets of contracts, documents, cheques, receivable notes or guarantee applications. All blank spaces should be filled in with the required information . in case of any violation a financial fine shall be imposed....."
Take care...
It's a very common knowledge that thousands of expats have availed loans or owes money to Banks for credit card payment and have vanished from Qatar. So if the Banks are exercising caution whats wrong in it?
It is for UAE not for QA.
Here the bank now does not issue CC if the salary is not transferred, or else, against a deposit only. This is the latest rule followed by all the QA banks.
Some banks like QNB, does not even issue a credit card even if your salary is transferred to QNB/ or above 25,000pm / or work in high designation, they need the companies to be listed with them, seems funny, but this is Qatar.....