DSI Vows Justice on Dh3B Fraud

[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 …

Funding Your Start-Up In The UAE

[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 …

Abraaj gets Dh1.156 billion DFSA fine

[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) …

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