100 companies not exposed to "tours" and 20 did not disclose

The number of companies listed on the Abu Dhabi and Abu Dhabi financial markets was raised to 100 at the end of yesterday's meeting in response to a request from the Securities and Exchange Commission. Commodities Authority to disclose the exposure of companies to the group. 19659002] An "economic" survey showed an increase in the number of companies announcing the existence of exhibitions or investments or direct and indirect loans to 11 companies for a total amount of 2.24 billion dirhams. The company listed on both markets for its position away from the total (19659002)

The financial analyst Waddah al-Taha, member of the National Advisory Board of the Institute of Securities and Investments of the UAE united: "In light of the statements of the" Listed companies show that the volume of exposures remains limited and does not have a significant impact on the results of these companies. "

The total direct and indirect gross exposures remains low and exceeds $ 600 million compared to the total assets of Abraaj Capital Group Around the World emphasizing that the more is the better

Wadah al -Taha predicted that this would contribute to a gradual return of confidence to investors returning from the recovery of the financial markets, adding that the assessment of the crisis in the form

Reduce the Impacts

For his part, Gamal Ajaj, general manager of the Sharhan Center for Stocks and Bonds, said that Contributing to reducing potential impacts on the magnitude of exposures

Ajaj added that the stock will gradually improve after the expiration of the period.

12 companies listed in the Dubai Financial Market (DFM) confirmed in separate statements yesterday that they were not exposed on "Abraaj", bringing the total to 41 companies. According to the data, the companies are:

Arabtec Holding, Dubai Financial Market, Emaar Shopping Centers, Dubai Refreshments, Dubai Investments, National Central Cooling, Scandinavian Insurance,

The magnitude of the list

In contrast, the list of companies exposed to the crisis rose to six companies In total, AED 1,863 million after the Commercial Bank of Dubai announced its exposure through a $ 166.25 million credit facility and the AED 66 million Mashreq Bank.

The insurance company Oman invested in the ASAS LP fund for a value of 19.7 million AED, and yesterday announced its exposure to the group of 8.83 million USD (32.4 million AED), of which USD 4.91 million and USD 3.92 million for its customers. 1965] Ajman Bank also said it co-financed Stanford Marine, which holds 51% of Abraaj, with a pledge of 105 million AED, while the amounts currently owed to Stanford Marine are AED 105 million. 1965,9002] Air Arabia announced a few weeks ago its exposure to the Abraaj crisis of $ 336 million, (AED 23 billion), bringing to 47 the total number of companies in the Dubai market having announced their exposure to Abraaj on a total of 51 listed local and private companies, 65 local businesses and two listings, leaving 18 companies not yet disclosed. 19659002] No company listed in the Abu Dhabi Securities Market has announced its position on Abraaj, so that the number of undisclosed companies has reached 59 companies until the end of the meeting yesterday, while 5 companies have so far declared exposure, investments or loans

The number of companies in the Abu Dhabi market that have announced their exposure to 64 companies out of a total of 66 listed companies . [19] 659002] Abu Dhabi First Bank announced that it was offering $ 21.4 million to Abraaj in the form of a 3-year secured loan facility ending in April 2019. The facility is secured through investments in other companies around the world.

The crisis of Abraaj, the largest direct investment firm in the Middle East and North Africa, began to emerge when a group of investors, whose Bill and Melinda Gates Foundation and the International Finance Corporation, said that In a health care fund. Abraaj denies having exploited the funds

Abraaj, which has an investment management business, sold some of it to Colony Capital, a US-based colonial company, for temporary liquidation in the Cayman Islands.