No replacement on imports.
As with any iPhone release, complaints usually start flooding in within days of some issue or the other. With the iPhone 5 we have easily chipped or scratched anodized aluminum bodies.
To make the iPhone 5 even slimmer than the previous versions, Apple decided to opt out of the glass back (found on the iPhone 4 and 4S) and go instead with a metal rear end made with an anodized aluminum finish. Apparently the new rear surface is easily scratched, and if you have keys in the same pocket as your shiny new iPhone 5, then be prepared to see a lot of scratches.
Source: Overclockers UK
Of course, this issue can be easily taken care of with a case, but what about issues straight from the factory? What if you opened your iPhone 5 box all excited, only to see that the chamfered edges are already chipped, revealing the shiny aluminum beneath? While Apple will replace your damaged iPhone 5 from an official retailer, grey market importers in the UAE will not offer replacements because of the high import costs as well as the ridiculous pricing currently going around.
Apart from getting full support via a nanoSIM from Etisalat & du, these chipping issues seem to be another reason to wait for the official iPhone 5 release and not splurge unnecessarily on grey market imports.