Salik Denies False Claims of 'Monthly Income of Dh35,600' from Share Investments

Dubai's toll gate operator, Salik, has dismissed a fraudulent claim suggesting that investing in its shares could generate a "monthly income of Dh35,600." The company has labelled this as a scam.

In a statement, Salik, which is listed on the Dubai Financial Market, indicated an increase in misleading investment promises related to its shares. The company urged customers to obtain information exclusively through its official channels.

A fraudulent website featuring Salik’s CEO, Ibrahim Al Haddad, is circulating online. This site falsely asserts that Al Haddad has secured a deal with the government allowing all citizens to invest in Salik shares through a new trading platform.

It claims that investing as little as $250 (about Dh917) could yield monthly returns of $9,700 (approximately Dh35,600).

The website also requests personal details such as names, email addresses, and UAE phone numbers. However, Salik shares are traded in UAE dirhams, not dollars, as the site suggests.

Salik advised its customers and potential investors to be wary of fraudulent websites, emails and social media scams that exploit the company's name.

Recent months have seen an increase in phishing attempts promising false investment opportunities and directing users to unsafe links for account recharges and tag purchases.

The company recommended avoiding suspicious links and pop-up ads and advised visiting Salik’s official website for accurate security updates.

In other news, Salik has updated its terms and conditions for motorists, introducing a cap on fines. The maximum fine for violations related to the Salik toll system is now Dh10,000 per vehicle per calendar year, from January 1 to December 31.

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