Dubai – Mubasher: The Dubai Financial Services Authority (DFSA) is reportedly running an investigation of the mismanagement allegations against Abraaj Group, in which the regulator interviews the company’s founder Arif Naqvi and other senior officials in the last few months.
The DFSA declined to give any comment on the matter, while the Emirati company said that it was in talks with the authority, according to Reuters.
“The DFSA is kept apprised of developments in the overall Abraaj Group and has our full co-operation on all relevant matters,” Abraaj commented.
Neither Naqvi nor his legal representative did comment on these reports, Reuters reported.
DFSA has the capacity to fine companies work within the Dubai International Financial Centre (DIFC) or suspend them from operating in the centre, which may be applied to Abraaj, a regulated entity in the centre, the international news agency said.
