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NAIROBI: Ahmed Zubedi, the disgraced chairman of collapsed Dubai Bank, has fronted a new investor whom he claims will inject the funds needed to save his bank from liquidation. In an interesting twist of events that may have come too late, Mr Zubedi says an ‘investor’ is ready to take up 95 per cent stake - technically locking out all the existing shareholders.
Shocking details have emerged from the court battle pitting the Central Bank of Kenya (CBK) and Dubai Bank which is under liquidation, relating to secrecy in its operations and profitability of the already sunk institution.
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