SCA to investigate Abraaj for local investor impact | GulfNews.com:
"The UAE’s Securities and Commodities Authority (SCA) is investigating whether any local investors are affected due to the current financial problems being faced by the private equity firm Abraaj, according to a top executive. Dubai-based Abraaj is currently facing allegations that investment funds were misused, specially that it commingled about $95 million after it faced cash shortages “We are investigating this and we are in contact with DIFC (Dubai International Financial Centre) to see where the national investor is affected. Once we have tangible evidence, we can move forward with this in coordination with Federal and local governments,” said Obaid Al Za’abi, chief executive of the UAE’s Securities & Commodities Authority while speaking to reporters in Abu Dhabi on Sunday night."
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