“I’m going to lose my apartment and AED100,000 (US$27,200),” said a British expat who renewed her contract for a property in the Fairways in June but has since been unable to contact the company.
Furthermore, the investigators were also probing whether HSBC circumvented US law by transferring money through its American subsidiary for sanctioned nations, including Iran, Sudan and North Korea.
The Serious Fraud Office, which prosecutes bribery and white collar crime, may inform the London-based bank about its decision on a probe this week, according to the people, who declined to be identified because the discussions are private.
"NIG argues that the investment contract is void because Carlyle, despite doing business for years in the Middle East, has never had a securities licence in Kuwait," the firm said.
With international sanctions squeezing Iran, the Islamic Republic is seeking to expand its banking foothold in the Caucasus nation of Armenia to make up for difficulties in countries it used to rely on to do business, according to diplomats and documents
In a comment piece in the Financial Times on the decision to split Dubai International Financial Centre Authority (DIFCA) - which governs the financial free zone - into two entities, Dr Habib Al Mulla, said a similar overhaul is needed at Nasdaq Dubai and
Investors can trade securities listed on ADX through any of its registered brokers and ADX has custody agreements with HSBC, National Bank of Abu Dhabi, Standard Chartered Bank, Deutsche Bank and Citi.
The DIFC Courts, the English language, common law judicial system based in Dubai, has launched an appeal to all lawyers in the UAE to lend their professional knowledge to help support the Courts' Pro Bono Clinic initiative and servethose in need.