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Special Report on

Dubai debtors prison

dubai debtors prison special research report Photo by decouplingblog.com
I can only imagine that Dubai will one day be seen as a punctuation mark on the architectural follies of the past half century. This off-the-shelf city state has been built on laundering the profits of oil, drugs, arms and western aid... If it is lucky Dubai will at least be a refuge from the political cataclysms that could engulf countries such as Pakistan, Iran, Iraq and Saudi Arabia. But mostly the dunes will reclaim the place. In centuries to come, tourists will share with Ozymandias the message: "Look on my works ye mighty and despair." With Shelley they will see how, "round the decay /Of that colossal wreck, boundless and ...
Currently, the practice of giving prison sentences for unpaid debts has been mostly eliminated, with a few exceptions such as inability to pay child support and certain taxes, and some specific countries, such as the United Arab Emirates . Cite error: There are tags on this page, but the references will not show without a {{Reflist}} template or a tag; see the .
REVIEWS AND OPINIONS
Lou Minatti: Dubai debtor's prison
Karen, like thousands of other European expats in Dubai, wanted to escape the middle class rat race back home and live the Dubai lifestyle: Generate wealth from doing nothing except flipping condos, while virtual slaves served her every whim. "I assumed if all these big companies come here, it must be pretty like (sic) Canada's or any other liberal democracy's," she says. Nobody told her there is no concept of bankruptcy. If you get into debt and you can't pay, you go to prison. Karen's living in a car now, hiding out in various Dubai car parks. Just like many other trapped expats who can't ... market research, surveys and trends
An Audio Conversation with Harry Stinson - Raise the Hammer
Harry Stinson is an unpretentious visionary, and with his sharpened business sense he finds opportunity where others haven't. He sees an immense amount of unrealized opportunity in Hamilton. By Trey Shaughnessy Published January 08, 2009 ( Listen to the interview ) On December 17, 2008, I stood on John Street between Main and King, in front of the old Liaison College and Crazy Horse saloon buildings. I was waiting to meet with Harry Stinson, who was about to unveil his plan to convert these buildings into a new boutique condo/hotel called the Hamilton Grand . Harry, widely known in Toronto as the "Condo King", ... market research, surveys and trends

SURVEY RESULTS FOR
DUBAI DEBTORS PRISON

Debtors languishing in Dubai's prisons | Deseret News (Salt Lake ...
DUBAI, United Arab Emirates -- Hussein Ali Mubarak sits in prison, surrounded by murderers and burglars. His crime: defaulting on his bank loans. More than 1,200 people in Dubai's central jail -- about 40 percent of the prison population -- have been convicted of not repaying money borrowed from banks so they could get married, buy a car or house, or invest in the stock market. Jailing debtors -- a practice more common in 18th-century England -- illustrates the downside of this Persian Gulf city-state's frantic economic boom. Surrounded by so much oil and real estate wealth, many residents succumb to the temptations of ... industry trends, business articles and survey research
Tony Ryals' Comments -- Seeking Alpha
Do the black swans swim in SEC Madame Chairwoman Mary Schapiro's and His Highness Sheikh Mohammed Bin Rashid Al Maktoum 's NASDAQ 'dark pools' ? Does this mean His Highness Sheikh Mohammed Bin Rashid Al Maktoum will be sent to his own Dubai debtors prison ? Who was responsible for selling the NASDAQ to His Highness Sheikh Mohammed Bin Rashid Al anyway and if he owns 26% and only 5% of the voting rights who are the elite scumbags who have the other 21% of his rights? His Highness Sheikh Mohammed Bin Rashid Al Maktoum is the one whose country Dubai allowed Khalid Sheikh Mohammed to send over $100,000 pre 9/11 ... industry trends, business articles and survey research
RELATED NEWS
In debt-laden Dubai, Dickensian debtors law can come in handy
The Dickensian debtors laws of the United Arab Emirates - stipulating jail sentences for defaulters - have long been a matter of controversy in the country, but seems to have won unexpected backing by HSBC, one of the largest international lenders in the region. In an interview with local magazine Arabian Business, HSBC Middle East’s UAE head Abdulfattah Sharaf, indicated that although the bank always strived to ensure that debtors did not end up in gaol, the harsh debtors laws were an effective deterrent to potential defaulters. “It has worked for us. People immediately get people to come and bail them out, and get ... market trends, news research and surveys resources
Jailing Gulf debtors 'morally wrong' - economics academic
The practice of jailing debtors who default on payments in the Gulf "sounds morally wrong", a leading economist has told Arabian Business. Roy Batchelor, Professor of Banking and Finance at London’s Cass Business school, said in an interview: “I can see that a piece of bad luck is going to send you to prison, and that sounds morally wrong, never mind the economics of it.” Professor Batchelor, whose previous students include easyJet founder Stelios Haji-Ioannou, said the attitude of Gulf banks to lending was out of sync with banks in much of the rest of the world. He said: “I can see it is very convenient for a bank to ... market trends, news research and surveys resources

INFORMATION RESOURCES

–––––––––––––––––––––– International News –––––––––––––
arm of Dubai World, has been sentenced to 5 years in jail and ordered ... in prison for corruption offences, and Christophe Mitterrand, son of ..... million - of the company's reported debtors were fiction. It said the ... technology research, surveys study and trend statistics
Testimony of Bruce D
Feb 12, 2009 ... A Dubai-based satellite television network, Al Arabiya, was successfully sued ...... He notes: “We abolished debtors' prisons some time ago. ... technology research, surveys study and trend statistics
Laid-Off Foreigners Flee as Dubai Spirals Down - NYTimes.com
“If I can't pay it off, I was told I could end up in debtors' prison.” With Dubai's economy in free fall, newspapers have reported that more than 3000 cars ...
REAL TIME
DUBAI DEBTORS PRISON
  1. profile image zippy_monster @omniphiliac No shit, Dubai has a debtors prison too. The country is... gilded.
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QUESTIONS AND ANSWERS
I keep reading about this rotating tower being built in Dubai but ...
I keep seeing reports (from two years ago) that they were about to break ground but I haven't seen any photos or articles about the buildings progress... Many of the articles say it's supposed to be completed late in 2009 or early 2010... and yet I cant find any recent info... What's the deal???? Member since: April 21, 2009 Total points: 8725 (Level 5) Over 70% of new construction is on hold as many people have left Dubai due to the economy. Million dollar homes and expensive cars have been abandoned by many foreigners that lost it all and since there is a debtors prison policy, they don't ...
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