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Regulatory case

Dubai Financial Services Authority re Abraaj Investment Management Limited and Abraaj Capital Limited

Authority: Dubai Financial Services Authority
Case number: Not published
Filed or opened: 30 July 2019
Organization: Abraaj Group
Current stage: Enforcement decision announced 30 July 2019^S2. A final regulator decision, with payment conditional on the firms' circumstances.
Outcome: Fines imposed. Collection conditional on the firms' circumstances^S2.

Decisions and steps

30 July 2019DFSA fines two Abraaj entities about US$314.6 million^S2

Claims this case bears on

Supported88
The Dubai Financial Services Authority said on 30 July 2019 that it fined two Abraaj entities a total of about US$314.6 million for deceiving investors and the regulator.
Regulator statement, 30 July 20191 record citedMarket conduct

Sources

S2Tier A DFSA Fines Two Abraaj Group Companies a Total of USD 315 Million for Deceiving Investors and the RegulatorDubai Financial Services Authority. Regulator press release. 30 July 2019.Supports the fines on AIML (US$299.3 million) and ACLD (US$15.3 million) and the findings of deception. It notes payment remains conditional.