Criminal proceedings against NMC initiated by ADCB

Criminal proceedings against NMC initiated by ADCB

ADCB initiates criminal proceedings against NMC officials. Filed on April 15, 2020 | Last updated on April 15, 2020 at 02.05 pm. Abu Dhabi Commercial Bank has the highest exposure to NMC at Dh3 billion.. Abu Dhabi Commercial Bank on Wednesday said it has started criminal proceedings against NMC Health officials for their alleged involvement in financial irregularities.". ADCB confirms that it has initiated criminal legal proceeding with the Attorney General in Abu Dhabi against a number of individuals in relation to NMC Health Group.. The action is consistent with the bank's objective to protect its interests," the lender said in a statement.". ADCB continues to work closely with other creditors and the joint administrators to ensure continuity of NMC Health's operations and a rapid recovery of the business," it said.. It is estimated that the more than 80 local, regional and international banks have exposure to healthcare firm.. The UAE entities have nearly Dh10 billion exposure to NMC Healthcare.. Earlier the week, Abdulaziz Al Ghurair, chairman of the UAE Banks Federation, said the board and management of NMC should be held accountable for the financial [email protected]. ERROR: Macro /ads/dfp-ad-article-new is missing!. The IEA report added to downward pressure caused