Monday 11, June 2018 by Kudakwashe

UAE’s SCA examines Abraaj investor impact

The United Arab Emirates' Securities & Commodities Authority (SCA) and the Dubai Financial Services Authority (DFSA) are working to ascertain whether local investors have been affected by the financial woes of private equity firm, Abraaj.

  

These are the first public comments by a regulator in the UAE about possible scrutiny of Abraaj as concerns grow on the financial state of the firm, reported Reuters.

DFSA, which regulates Abraaj, has made no comment on the private equity firm, which is grappling with allegations by some investors that it had misused their money—an allegation that Abraaj has denied.

 

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