UAE firm sues MD over bonuses

DUBAI – Dubai International Finance Centre Investments (DIFCI) is suing a former managing director, Bisher Barazi, to recover $1.2 million in “unlawful” bonuses, according to reports.

Court papers filed by DFICI claim Barazi stated DIFCI’s income for 2007 was $16.3 million, when the group had actually lost $21.7 million. In doing so, he sought to justify large bonuses for himself and the former governor of the bank, Omar bin Sulaiman.

Sulaiman was previously detained in March on embezzlement

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: