Finablr controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2020
Undisclosed financing and debt crisis
Finablr first disclosed approximately US$100 million of previously undisclosed financing and later reported that investigations had identified approximately US$1.3 billion of undisclosed debt. The company also said it could not exclude the possibility that some borrowing proceeds had been used outside the group.
2020
Governance and regulatory investigations
The group's finances were examined by external advisers and regulators, including the United Kingdom Financial Conduct Authority and the Central Bank of the United Arab Emirates. UAE Exchange was placed under central-bank supervision, and Skadden was appointed to investigate potential historic malfeasance and asset misappropriation.