No, All GCC states do not have a centralized system. This is still in talks only. It will be a good number of years till this is deployed GCC wide. I personally know a few blokes who left DXB with over 500K worth of bank debts and they are in Qatar and Bahrain now. I even know of a couple who fled with over 1 Mil AED of debts together and they are now happily living on the black sea coast.
Anyways, how much money are we talking about here? If your brother has evaded the country with a few millions then, yes there is a chance that the banks might have contacted the Interpol and he could be in some serious s##t. Only if he is using these millions to aid Ter##rism, will the Interpol step in. They have more important things to do than chase bank defaulters from a superficial country with an unstructured banking system and no bankruptcy laws.
Otherwise - relax mate. The banks dont go after petty defaulters because: 1st and foremost; every penny that banks give out are insured. After 6 months of defaults, they file for insurance claims and they get the principle amounts back. Besides, chasing a defaulter over international borders is not a cheap nor easy thing. Had it been only a handful of defaulters, then there was some logic to it. We are talking about thousands of defaulters from the UAE and there will be no end to it. They dont have the resources to do this.
So your bro can chill, except he can never go back to the UAE.
No, All GCC states do not have a centralized system. This is still in talks only. It will be a good number of years till this is deployed GCC wide. I personally know a few blokes who left DXB with over 500K worth of bank debts and they are in Qatar and Bahrain now. I even know of a couple who fled with over 1 Mil AED of debts together and they are now happily living on the black sea coast.
Anyways, how much money are we talking about here? If your brother has evaded the country with a few millions then, yes there is a chance that the banks might have contacted the Interpol and he could be in some serious s##t. Only if he is using these millions to aid Ter##rism, will the Interpol step in. They have more important things to do than chase bank defaulters from a superficial country with an unstructured banking system and no bankruptcy laws.
Otherwise - relax mate. The banks dont go after petty defaulters because: 1st and foremost; every penny that banks give out are insured. After 6 months of defaults, they file for insurance claims and they get the principle amounts back. Besides, chasing a defaulter over international borders is not a cheap nor easy thing. Had it been only a handful of defaulters, then there was some logic to it. We are talking about thousands of defaulters from the UAE and there will be no end to it. They dont have the resources to do this.
So your bro can chill, except he can never go back to the UAE.