Dubai-based asset manager Rasmala Investment Bank has rejected claims it misled a Saudi investor over the health of its since-suspended trade finance fund. In a court filing, the bank denies allegations by investment firm Alawwal Capital, filed in a Dubai court last year, that Rasmala representatives made “untrue representations” about how the fund was managed…| Global Trade Review (GTR)
A trade finance fund owned by Dubai’s Rasmala Investment Bank is suing Trafigura over a series of allegedly fraudulent coal trades, accusing staff at the commodity trading giant of overlooking forged documents in order to recover debts. Rasmala Trade Finance Fund says in the lawsuit, filed last month in London’s High Court of Justice and…| Global Trade Review (GTR)
Dubai Islamic Bank (DIB) has launched a bid to liquidate a trade finance fund managed by Rasmala Investment Bank, saying it has lost “trust and confidence” in the management of the troubled investment vehicle. DIB owns almost two-thirds of the shares in the Rasmala Trade Finance Fund on behalf of more than 100 of the ...| Global Trade Review (GTR)
