Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now


You can switch off notifications anytime using browser settings.

Panache

11,620.1531.8
Stock Analysis, IPO, Mutual Funds, Bonds & More

How this Indian expat lost his wife and access to over $2 mn within days

Narendra Gajria had saved around 1 million dirhams in a UAE joint bank accounts with his wife.

IANS|
Jul 11, 2019, 02.14 PM IST
0Comments
Agencies
​Narendra Gajria (L) said he never imagined having a joint account with his wife Heena (R) in the UAE would cause so much inconvenience. ​
Narendra Gajria (L) said he never imagined having a joint account with his late wife Heena (R) in the UAE would cause so much inconvenience.
DUBAI: A Dubai-based Indian expat's savings worth 1 million dirhams ($272,242) had been blocked following his wife death as the couple had joint accounts with various banks in the United Arab Emirates (UAE), the media reported on Thursday.

Following Narendra Gajria's wife Heena's death, Dubai Courts, as part of the procedure to issue a succession certificate to the legal heirs, has temporarily blocked their accounts, Gulf News reported.

Due to the blockade, Gajria could not withdraw money from the ATM, make online transactions or use his card to make purchases.

Making things worse, he did not have a separate bank account in his name through which he could conduct transactions.


"I had close to a million dirhams in different bank accounts and they were all blocked. As soon as I realised this, I rushed to one of the banks I was dealing with and opened a new account in my name. I put whatever little money I had in my wallet into that account.

"I headed straight to my office after that and provided my new bank details so that my salary could be transferred. Luckily for me, the next day was pay day, so I had money coming into my account. Until then I was stuck without any money," Gajiria told the Gulf News

He added that it took five months for his monies to be transferred back to him.

"When Dubai Courts finally transferred my money five months later, it was distributed to my children and me on the basis of the Sharia Law principle."

Gajria said he never imagined having a joint account with his wife in the UAE would cause so much inconvenience.

"Back home in India, it is common for couples to have joint bank accounts... I assumed this would be the scenario here in the UAE as well."

Ultra Rich World: Ambani Tops Indian Billionaires; Bezos Wealthiest; Kylie Jenner Youngest ...

of 9
Next
Prev
Play Slideshow

It's All About Money!

6 Mar, 2019
Like every year, Forbes World's Billionaire list highlighted some obvious names, and brought in some surprises. Amazon CEO Jeff Bezos topped the global list, and Reliance Industries Chairman Mukesh Ambani ranked 13th making him the wealthiest Indian. With 55 fewer billionaires from the previous year, the ultra-rich make a total net worth of $8.7 trillion ($400 million lower last year), Forbes reported. Here's a look at who made it to the Forbes rich list this year.
Next

Want stories like this in your inbox? Sign up for the daily ET Panache newsletter.

You can also follow us on Facebook, Twitter and LinkedIn.
Comments
Add Your Comments
Commenting feature is disabled in your country/region.
Download The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.

Other useful Links


Follow us on


Download et app


Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service