Weren't the banks the one "private" sector that was emiratized?
Now that massive fraud has been uncovered Christopher Davidson wonders, "Where are the locals?" The suspects all appear to be expats.
Labels: Christopher Davidson
posted by John B. Chilton at 3/12/2009 10:37:00 PM
2 Comments:
emiratized? Hardly. With the largest of the "emaratized" banks being NBAD and only archiving around 10% UAE nationals as staff, it makes sense that any fraud would most likely involve the other 90%.
In DIB, the percentage is probably less.
You caught me, ABIT. I had my tongue firmly in my check on that one. Banking is industry where emiratization is highest, but it is still small.
Even so, one has to wonder if how these got away with this fraud without some local participation.
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