According to court documents, the investment arm of the government-owned Dubai International Financial Centre, the emirate’s offshore financial centre and a significant strategic asset, has settled out of court with Bisher Barazi, its former chief financial officer. DIFC Investment has agreed to pay costs regarding Mr Barazi’s claim for unpaid salary and other benefits.
The settlement of the case, which had been set to go to a potentially embarrassing public trial at the DIFC courts, comes amid a round of political changes in the emirate as former executives who had been sidelined for their role in Dubai’s boom-to-bust stage a political comeback.
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