Dubai financial regulator slaps record $315mln fine on Abraaj group companies
The regulator said that it has taken the action to penalise ACLD and AIML so as to deter others and protect investors.
ZAWYA - 30-Jul-2019
The Abraaj Group (under liquidation)
Also known as: Abraaj Last updated on: 11 September 2019
fast facts
Business SummaryProvides private equity investments; asset management services including fund management.Country of IncorporationUAEOwnership TypePrivateEstablished In2002Primary SectorFinancial ServicesNumber of Employees-Latest News
financial services
Dubai regulator imposes its largest fine over Abraaj saga
The fines were imposed for "serious wrongdoing by two Abraaj group companies included carrying out unauthorised activities in the DIFC and misusing investors' monies," the regulator said
Reuters News - 30-Jul-2019Dubai regulator says Abraaj probe focused on senior management
DFSA has been investigating Abraaj Capital Ltd, an entity of the collapsed firm, over a range of matters
Reuters News - 23-Jul-2019Former Abraaj executive pleads guilty to U.S. charges
Abdel-Wadood said he deceived investors at the direction of Abraaj founder Arif Naqvi, who is fighting extradition to the United States in London.
Reuters News - 28-Jun-2019Middle East M&A activity slows down as caution prevails: PwC
MENA-based investors continue to dominate activity throughout the region
ZAWYA - 26-Jun-2019Contact details
Primary address
UAEDubai
Region
DubaiFind Out More Information
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