Monday 18 January 2010
were wanted for issuing Dud cheques in 4 months
The Center of Research and Security Studies at ADP GHQ released a study under the title "Bank Cheques and its consequences". The study indicated that 3,000 persons were wanted for various reasons by the authorities concerned, during the first quarter of the year 2009 of which 300 were women.
The study consists of four chapters in which the first deals with the extent of civil responsibility, the second deals with role of cheques in the national economy, the third deals with bounced cheques from security perspective and the last deals with awareness of the importance of cheque and role of police in protecting trust.
The security authorities are facing some obstacles in respect of fighting the issue due to reluctance of some banks to provide them with adequate information and details of involved persons. The study draws attention to the seriousness of giving expired documents, incorrect addresses, persons who have already left the country or similar names which only waste the time of security authorities.
The study calls for imposing strict penalties on those who guarantee suspects in case of default. Some times judicial authorities do not agree to apprehend people from their homes and security authorities have to wait for long. This creates more burdens to policemen. The study urges banks not to exploit the blank cheques signed by customers to claim the whole amount and not mentioning the sums repaid by the customer. Banks should not give personal loans without adequate guarantees.
Banks should also coordinate with the Central Bank to ensure the financial situation of applicant. The banks should have substitute means of repayment if the client fails to repay loan installments due to reasons out of his control. No further interests, in addition to the original loan, should be imposed on the client. The Central Bank should monitor commercial banks to curb personal loans for consumer and luxury purposes and to find stringent regulations for borrowing.
The study urges media and security agencies to intensify awareness campaigns about the risks of borrowing and consequences which entail imprisonment, termination of service and other unnecessary procedures.
The study confirms the importance of the contribution of the banks to the expenses of dud cheque issuers while serving their imprisonment terms. The banks are also urged to find other repayment options that reserve the rights of all parties.