Dubai should get a grip on Abraaj before somebody else does | Arab News:
"The unfolding events at Abraaj Group are taking on an air of fiasco. Not a week passes, it seems, without another high-profile executive departure from the Middle East’s biggest private equity investor, or another allegation of misuse of funds, or another investigation into the firm’s practices.
It is becoming a drip-feed of bad news that now threatens much more than the firm itself, or the position of its founder and chief executive, Arif Naqvi.
To understand how damaging it is — actually and potentially — you have to understand the unique position Abraaj occupies in Dubai, and in the Gulf’s financial services sector. Since 2002, when Naqvi launched the firm in Dubai, it has become the regional champion in private equity, showing the slick money managers of New York and London that the Middle East could match them."
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