Tom Arnold
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Dr KB Vijayakumar PhD
Banking and Insurance business in UAE go hand in hand in deceptive business of fleecing from their customers. I know of a friend of mine who lost his job and went back to India due to health problems and was forced to be on dialysis. One of the local banks asked him about the clearance of his AED 20,000+ liability and he forwarded to them the termination letter and his health position. The Bank asked him whether he was under Limited Contract or Unlimited Contract. He replied with a copy of the Labour Contract which said that he was under Limited Contract. The Bank wrote back stating that the insurance company has refused to pay up because insurance is not available for Limited Contract employees. But the bank and the insurance company enjoyed the premium every month for three full years. Isnt this blatant fleecing, cheating, conspirary and what not? But law is silent on this issue. So one must be very careful in such economies where the law is silent and the institutions such as banks and insurance companies either individually or jointly conspire to be deceptive and ditch their customers when the crux comes in.
NAIRU
...said Ronald MacDonald, professor of economics...
Credibility is important, especially when taking a shot at the contemporary gold standard currency...and suggesting that the dollar is acting like the Hamburglar but can be twarted by Birdie the Early Bird and The Fry Kids...well...some McAnalysis please...and supersize it.
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