Dubai regulator upholds $136m fine on founder of beleagured PE firm Abraaj

Dubai regulator upholds $136m fine on founder of beleagured PE firm Abraaj

Arif Naqvi, Founder and Group Chief Executive of Abraaj Group attends the annual meeting of the World Economic Forum (WEF) in Davos, Switzerland, January 17, 2017. REUTERS/Ruben Sprich

Hadeel Al Sayegh

03 January, 2023

Dubai’s financial regulator said on Tuesday it upheld a $135.6 million fine on collapsed private equity firm Abraaj Group’s founder and former CEO Arif Naqvi “for his serious failings” in respect of the company.

Abraaj GroupDubai Financial Services Authority

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