Apr 12: The board and management of troubled NMC Healthcare should be held accountable for the financial irregularities, said Abdulaziz Al Ghurair, chairman of the UAE Banks Federation.
"Banks have dealt with the exposure professionally and they lent to a company which was listed on FTSE-100 index with world-class regulator and the world's largest audit firm doing their audit. Even if they present their balance sheet today, people will still lend to them. This is a world-class fraud and the management and board members should be held accountable. We should have a different track to handle this company. It is not a normal track that we can go," Al Ghurair said during a virtual press conference on Sunday.
It is estimated that the more than 80 local, regional and international banks have exposure to healthcare firm. The UAE bourses had asked all the listed companies in the UAE to announce their exposure. The UAE banks last week announced nearly Dh10 billion exposure to NMC Healthcare, which is owned by the billionaire BR Shetty.
Abu Dhabi Commercial Bank has the highest exposure to NMC at Dh3 billion. Dubai Islamic Bank and its subsidiary Noor Bank announced Dh2 billion exposure while Emirates NBD and its Shariah-compliant unit Emirates Islamic Bank revealed Dh747.34 million exposure. Ajman Bank has Dh151.8 million while Al Salam Bank pegged its exposure at Dh161.5 million. All these lenders revealed their exposure for the first time on Sunday.
Abu Dhabi Islamic Bank said it had extended Dh1.07 billion in financing to NMC Healthcare, and an additional Dh113.67 million exposure to Islamic bonds issued by NMC.National Bank of Fujairah pegged its exposure to NMC at Dh289.1 million, while Sharjah-based United Arab Bank said its exposure was Dh135.3 million.
NMC recently revised its debt position to $6.6 billion, well above earlier estimates.
London's High Court last week placed hospital operator NMC Health into administration, on the application of Abu Dhabi Commercial Bank.
"I know leading bank in UAE have already legal guardian of the company so now management cannot hide anything. The new team will manage and discover what happened," said Al Ghurair.
Comments
today TRUMP ..tomorrow SUNNY LEION ...no doubt about that
and interested thing is TRUMP married thrice ... can cheddis ?
TRUMP likes to eat COW MATA and PIG BABA ... do they like?
one more interested thing is his grand father FREDRICK TRUMP was barber and owner of hotels and BROTHELS ....
Trump likes to have BEEF with cake, they forgot to bring it in the Party, Sena he is a BEEF (MATA) eater. Careful buddies!!!
This clearly shows that chaddis are anti nationals.
Because they are celebrating the birthday of one person who always hate Indians and scolded Indians many times.
Don't be surprised if these chaddis forget RAM Mandir and start demanding Trump Mandir...
How sad......what more can be expected from worshippers of Godse
This is what happens when some people remain illeterate. please my dear friends send your children to school, educate them, highly qualified to atleast understand what is right and wrong, so we will not see such kind of stupid brithday celebration in our future generations.
Good news....
Childrens be prepared for one more National Holiday (TRUMP JAYANTHI) in india.
Shameless Creatures....
Muslims are so powerful....chuddies (Trump) are scared......
he will ask \who r u ? touble mongers?"
Wonderful celebration by the RSS/ SEENA Mongers, these Buffoons thinking what??? Once Master Donald elected then he will teach Goonda Sennas A good lessons because he is Americians, these Cruel Baboon's not yet understand these American's, Puppet of Arabs, they will not believe you Poor Nasty's, they need money they are behind of money my dear Sena Criminals, spend poor people money for celebrating his Birthday totally waste and angry with your Neighbour friends made Dushman!!!!!! you criminals never and ever improve, feel like you Forgotten your died leader.
Jai Hoo Hindustan.
AFTER WINNING THE ELECTIONS TRUMP WILL CONVERT ALL CHADDIS INTO HIS MANGA JAATI.
Finaliy the RSS parivar proovd that hitler is the grand father and his belover is the father of the parivar.any how they not celebreated thire on father birthday so enjoy this tyip of stupid birthday,jai hoooooooooooooo
Now they forget to celeberate death anniversary of Late Takre.
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