Dubai regulator fines former Abraaj COO $1.15 million ...Qatar

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Dubai regulator fines former Abraaj COO $1.15 million
Dubai's financial regulator has fined Waqar Siddique, former chief operating officer of collapsed private equity firm Abraaj Group, $1.15 million for "knowing involvement" in the firm's misconduct, it said on Wednesday. Dubai-based Abraaj was the largest buyout fund in the Middle East and North Africa until it collapsed in 2018 after investors raised concerns about the management of its $1 billion healthcare fund. The Dubai Financial Services Authority (DFSA) said Siddique was also "prohibited and restricted from performing any function in or from the DIFC", Dubai's financial centre. The regulator said Siddique was "knowingly involved in certain Abraaj Investment Management Limited (AIML) a

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