BNW Warns Over Individuals Falsely Claiming To Represent Firm
The Dubai-based property developer said it had not authorised any person to communicate, provide instructions or otherwise act on its behalf in dealings with banks and financial institutions. The company urged stakeholders to independently verify the credentials of anyone purporting to represent it before relying on communications, instructions or requests made in its name.
Recommended For YouIn a notice circulated to financial institutions, BNW said it understood that certain individuals were presenting themselves as representatives of the company and had been approaching banks in the UAE and beyond. The developer stressed that such individuals do not have authority from the company to act on its behalf.
“Protecting the integrity of our institutional relationships and safeguarding our stakeholders is of paramount importance to us,” a BNW spokesperson said.“We encourage all banks, financial institutions and business partners to verify any communication or representation through BNW Developments' official and authorised channels before taking any action.”
The company called on banks, financial institutions and other concerned parties to exercise due caution and conduct independent verification of any individual claiming to represent BNW. It advised counterparties to seek confirmation directly through the company's authorised representatives and official communication channels before acting on any instruction or representation.
BNW further clarified that communications, requests, undertakings, transactions or representations made by people who are not duly authorised should not be treated as official company communications. The developer said no communication or transaction initiated by an unauthorised individual should be relied upon as having been made on behalf of the company.
The notice also stated that the company would not be responsible or liable for any act, commitment, transaction or communication undertaken by someone who is not authorised to act for BNW.
BNW said it continues to maintain established channels for institutional and business engagements and advised stakeholders to contact the company directly if there is any uncertainty about the authenticity of a communication or an individual claiming to represent the developer.
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