FAB discloses USD21mn fully secured exposure to Abraaj; DIB says no exposure to the PE firm
UAE companies continue to make disclosure on their exposure to embattled PE firm Abraaj. DIB stated that it did not have any exposure to Abraaj. Meanwhile FAB said that it has a USD21mn fully secured loan exposure to Abraaj (this makes c0.2% of FAB’s loans). Amlak, a mortgage finance company, said that it has no exposure to the PE firm. Shuaa, the UAE based investment and finance company, stated that it has a 3.6% interest in Abraaj buyout fund.
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