NMC board, management should be held accountable: Al Ghurair – Khaleej Times

NMC board, management should be held accountable: Al Ghurair – Khaleej Times

NMC board, management should be held accountable: Al Ghurair. It is estimated that the more than 80 local, regional and international banks have exposure to healthcare firm.. The board and management of troubled NMC Healthcare should be held accountable for the financial irregularities, said Abdulaziz Al Ghurair, chairman of the UAE Banks Federation.. "Banks have dealt with the exposure professionally and they lent to a company which was listed on FTSE-100 index with world-class regulator and the world's largest audit firm doing their audit.. We should have a different track to handle this company.. The UAE bourses had asked all the listed companies in the UAE to announce their exposure.. The UAE banks last week announced nearly Dh10 billion exposure to NMC Healthcare, which is owned by the billionaire BR Shetty.. Dubai Islamic Bank and its subsidiary Noor Bank announced Dh2 billion exposure while Emirates NBD and its Shariah-compliant unit Emirates Islamic Bank revealed Dh747.34 million exposure.. Ajman Bank has Dh151.8 million while Al Salam Bank pegged its exposure at Dh161.5 million.. All the lenders revealed their exposure for the first time on Sunday.. Abu Dhabi Islamic Bank said it had extended Dh1.07 billion in financing to NMC Healthcare, and