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UAE banks disclose Dh412 million exposure to Phoenix and associate firms
First Abu Dhabi Bank, on Wednesday disclosed to the Abu Dhabi Stock Exchange (ADX) that it has about Dh269 million ($73.2 million) of exposure to agri-trader Phoenix Commodities and related entities. This was the biggest exposure so far disclosed by a UAE bank to the group that has entered liquidation….
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Click here to read the full story: Gulf News