#Finablr

UAE Central Bank

UAE Central Bank gives in-principle approval for Wizz Financial to acquire UAE Exchange

Once finalised, UAE Exchange is expected to relaunch its branch network in the UAE

UAE Exchange suitor in merger talks with Bahrain-headquartered BFC Group

Merger of Finablr assets and BFC would create regional financial services giant

UAE-Israeli consortium moves closer to reopening Finablr

Matrix International picked for financial compliance and fraud prevention

Abu Dhabi’s ADCB sees creditors approval for NMC restructuring in first half

The bank recorded $450m in provisions and interest in suspense toward NMC, Finablr and associated companies last year

Investment bank Moelis & Company appointed for restructuring of UAE’s Finablr

In December 2020, Finablr agreed to sell off its business to an Israeli-UAE consortium for $1

Finablr sold for $1 to Israeli-UAE consortium

The deal is also among the first significant commercial transactions between UAE and Israeli companies

Dr B.R. Shetty, Founder and Co-Chairman of Finablr, at the London Stock Exchange[2] copy

BR Shetty plans ‘imminent’ return to the UAE to support investigation into NMC

The NMC Health founder denies wrongdoing and says he has “complete faith in the justice system of the UAE”

Finablr founder Shetty resigns as Indian court closes net on NMC Health

Finablr and NMC Health were both listed on the London Stock Exchange before being suspended

UAE Exchange starts issuing refunds – report

UAE Exchange, which operates more than 100 branches across the country, stopped all transactions in March

Finablr uncovers $1bn in hidden debt as UAE’s NMC Health scandal widens

The London-listed company, Finablr, had a market value of GBP77m when it was halted from trading in March, down from a peak of GBP1.5bn in December

NMC controversy: Founder BR Shetty issues first public statement, denies wrongdoing

Shetty claimed he was also a victim of fraud and put the blame on a “small group of current and former executives”

Dr B.R. Shetty, Founder and Co-Chairman of Finablr, at the London Stock Exchange[2] copy

UAE-based BR Shetty’s fortune drops by $1.5bn since Muddy Waters attack

The family’s troubles began last month when Block’s Muddy Waters Capital issued a report criticising NMC’s accounts