Financial and Banking News

REGIONAL BANKING

A.W. Galadari Debts Partly Settled 

The officially appointed receivership which is liquidating the assets of Abdul Wahab Galadari in Dubai last week made a 75% payment to creditors, totalling Dhl,180mn ($321mn). Creditors of A.W. Galadari Holdings Private Ltd received Dh866.5mn, or 70% of their outstanding claims. Dh309mn was paid to creditors of Galadari Property Development Company, representing 100% of their claims, Dh2.9mn was paid to...