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UAE/Dubai: Abraaj founder steps back

Dubai-based investment firm Abraaj announced sweeping changes to its business on 23 February, in the wake of allegations of the misuse of funds at the firm. Founder Arif Naqvi has relinquished control of the fund management arm, Abraaj Investment Management Ltd (AIML). In his place, the company has appointed Omar Lodhi and Selcuk Yorgancioglu as co-chief executives of AIML with immediate effect.

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