Will NMC’s health hit UAE Exchange Centre? | Banking – Gulf News:
The problems at NMC Health could well spill over into Finablr, the financial services holding company that was launched by Dr. B.R. Shetty and which listed on London Stock Exchange in May 2019.
Finablr’s stock price is going through some turmoil - down 27 per cent just in the last five days - as more revelations pile up about NMC’s financial health. But that’s not all.
Highly placed sources say that UAE Exchange Centre, the cashcow at the centre of Finablr’s holdings, has been conducting an internal review at its local operations in recent days. There has been no official word from UAE Exchange Centre about whether such a review is going on.
“Both NMC and UAE Exchange Centre/Finablr have a shared lineage and heritage in the form of Dr. Shetty - problems at one cannot be insulated from the other,” said a banking industry source with close association with both entities.
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