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Abraaj’s Founder Fined $136 Million Over Firm’s Collapse
January 27th, 2022 - 08:12 GMT

Abraaj’s Founder Fined $136 Million Over Firm’s Collapse

The Dubai Financial Services Authority (DFSA) has imposed a $135.6 million (Dh497.8) fine on Arif Naqvi, the founder of the collapsed private equity firm Abraaj Group, over his role in the Abraaj’s 2019 collapse. Abraaj's COO Waqar Siddique has also been fined $1.15 million (Dh4.22 million) by the emirate's authority. Both of them are also prohibited and restricted from performing any function in or from the Dubai International Financial Centre ...
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