BNW Developments, a real estate company in UAE, has issued an alert following instances of individuals claiming to represent the company and approaching banks and financial institutions in the UAE and other markets.
The company has clarified that it has not authorised any individual to represent, communicate, issue instructions or otherwise act on its behalf with banks or financial institutions in relation to such approaches.
BNW Developments has urged banks, financial institutions and other concerned stakeholders to exercise appropriate caution and independently verify the credentials and authority of any individual claiming to act on behalf of the company before relying on any communication, instruction or representation.
A spokesperson for BNW Developments said, “Protecting the integrity of our institutional relationships and safeguarding our stakeholders is of paramount importance to us. 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 further clarified that communications, requests, undertakings, transactions or representations made by individuals who are not duly authorised by BNW Developments should not be treated as official company communications.
BNW Developments continues to maintain established authorised channels for all institutional and business engagements and has advised stakeholders to contact the company directly should there be any uncertainty regarding the authenticity of a communication or representative.
Accordingly, all banks, financial institutions or any other concerned parties are requested to exercise due caution and conduct independent verification of the authority and representation of any person purporting to act on behalf of the BNW Developments.
Confirm the same directly with the BNW Developments through its authorised representatives and official communication channels prior to relying upon or acting on any such representation or instruction.
No communication, instruction, request, undertaking, transaction or representation made by any unauthorised individual should be relied upon or acted upon as being made on behalf of the BNW Developments.
BNW Developments shall not be responsible or liable for any act, representation, commitment, transaction or communication undertaken by any person who is not duly authorised to act on its behalf.
