The Rasmala Trade Finance Fund has entered voluntary liquidation after ending its defence against a winding up petition brought by majority shareholder Dubai Islamic Bank. The fund, which had a value of US$263mn as of late 2021, placed itself into the hands of liquidators on May 14, according to a Cayman Islands court document made…| Global Trade Review (GTR)
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)
London's High Court has ruled that Trafigura does not have to repay Rasmala Trade Finance Fund US$21.6mn in a case involving forged documents| Global Trade Review (GTR)
