Saturday 15 December 2018
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Abraaj Group Founder Reaches Settlement, Criminal Case Withdrawn

Arif Naqvi, founder of Abraaj Group, and Hamid Jafar, founder of Crescent Group, have reached an agreement to settle Dh798 million bounced cheque case, lawyers said on Tuesday. Zafer Oghli, Partner of Al Tamimi Co., who is representing Hamid, said all the criminal proceedings against Naqvi have been discontinued. Abraaj chief had issued the cheque to Jafar which was bounced due to lack of funds in the account.

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