Dubai Islamic Bank claims to be the oldest Islamic bank in the world, but it also has a history punctuated by scandal.
Its new management hopes the referral of seven defendants to court this week for allegedly participating in a scheme to defraud the bank of more than $500m will end the latest period of uncertainty, which has revived awkward memories of the past.
“We are pleased to close this chapter,” Abdulla al-Hamli, chief executive, said in a statement on Tuesday.
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