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DUBAI – The Dubai Financial Services Authority (DFSA) announced its investigation into the bankruptcy of the company "Abraaj "targets executives and people who do not detect or report violations.
In its annual report, the AMF confirmed that it would use all its powers to deal with those identified as responsible.
She said that she would use all her powers to deal with officials, pointing out that the investigation was very complex and varied and that she was being followed closely..
The DFSA has the power to impose administrative sanctions on companies placed under its authority if necessary, but has no criminal jurisdiction, nor does it charge or hold detention..
Abraaj was the largest direct investment company in the Middle East and North Africa until it collapsed last year after investors, including the Bill and Melinda Gates Foundation, had expressed their views. doubts about the management of a billion dollar health care fund.
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