[vc_row][vc_column][vc_column_text] Corporate governance to play key role in sustaining investor trust Drake & Scull International (DSI), a Dubai-based contractor, on Wednesday said it will take the ongoing investigation into the company’s financial irregularities to a logical conclusion and pursue everyone from the previous management who is proven guilty of fraud. The company alleged that losses …
[vc_row][vc_column][vc_column_text] Funding options for start-ups in the UAE are on the rise. Traditionally, most start-ups in the UAE have tended to be bootstrapped or financed by conventional lenders such as banks and financial institutions. However, over the last few years, business incubators and accelerators have flourished in the UAE, creating a conducive and cost-effective environment …
[vc_row][vc_column][vc_column_text] Some major violations committed by Abraaj entities include carrying out unauthorised financial services. Dubai regulator on Tuesday penalised two Abraaj Group entities with a record Dh1.156 billion in fines – the biggest penalty by any regulatory authority in the UAE – for violating its regulations and deceiving investors. The Dubai Financial Services Authority (DFSA) …
[vc_row][vc_column][vc_column_text] The new system “will not affect the customers of banks since it is not applicable to them”, the central bank said. The Central Bank of the UAE has developed a Persona Non Grata (UAEPNG) System in order to restrict persons with questionable professional integrity from joining the financial sector. The system is aimed at …
[vc_row][vc_column][vc_column_text]Initial Coin Offering (ICO) is a hot topic now, sensationalised headlines about startups raising as much as US$200 million in one go created a lot of frenzy amongst curious investors and regulators worldwide. At the peak, we saw about 30 new ICOs launch every day, raising over US$4.9 billion in 2017 alone. As the cryptocurrencies market …
