DFSA publishes decision notices on Abraaj founder Naqvi and former COO Siddique – ArabianBusiness
- Date: 27-Jan-2022
- Source: Arabian Business
- Sector:Financial Markets
- Country:Middle East
DFSA publishes decision notices on Abraaj founder Naqvi and former COO Siddique – ArabianBusiness
The Dubai Financial Services Authority (DFSA) published its decision notices on Thursday in respect to Arif Masood Naqvi and Waqar Siddique’s “serious failings in respect of the Abraaj Group,” according to a statement from DFSA.
Founded in 2022, private equity firm Abraaj Group collapsed in 2019. Naqvi, founder of the defunct Dubai firm, has been fined $135.6 million and banned from the city’s financial centre by the DFSA, the statement read.
The DFSA also fined Siddique $1.15 million and banned him from operating in the DIFC.
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