IslamicFinance.de

Dubai Islamic Banks lawyers stated in their closing arguments in court that the loan facilities, which allegedly led to a $500 million fraud, would not have been given had it not been for the approval of two Pakistani former bank executives on trial.
They presented a list of claims to the court. However, the defence team, on behalf of the five men accused of defrauding the bank of more than $500 million (Dh1.8 billion), argued in the Court of First Instance that their clients were paying back the loans they took in instalments.