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Dubai Court of Cassation Clarifies Banks’ Liability for Returns on Frozen Accounts and Reaffirms the Prohibition on Compound Interest

Dubai Court of Cassation Clarifies Banks’ Liability for Returns on Frozen Accounts and Reaffirms the Prohibition on Compound Interest

The Dubai Court of Cassation has delivered an important judgment addressing the rights of bank customers whose accounts are frozen pursuant to anti-money laundering investigations and the corresponding obligations of banks to comply with directives issued by the...