Liquidators overseeing Abraaj Group’s insolvency now estimate chief executive officer Arif Naqvi’s alleged theft to have cost the firm $385 million, an amount significantly more than what prosecutors claimed.
Crescent Group
Latest in Crescent Group
Badr Jafar
Video: Badr Jafar: when profit and purpose meet
Badr Jafar and the company he heads, Crescent Enterprises, have a wide array of business interests ranging from American ports to venture capital, sensor enabled clothing for blue collar workers and history-inspired coffee houses.
Badr Jafar
Crescent Enterprises CEO Badr Jafar on how a ‘social compass’ guides the operations of a vast and diverse business empire that stretches across the globe
Crescent Enterprises CEO Badr Jafar: “For too long, we’ve assumed that there is a trade-off between profit and purpose. I totally disagree with that”
Amman
‘SMEs for Humanity’ initiative piloted in Jordan
SMEs for Humanity initiative seeks to connect relief organisations with SMEs in areas requiring humanitarian aid
Badr Jafar
Crescent Enterprises creates sensor-equipped clothing line for labourers
Sensors enabled in the workwear allow foremen to monitor the vital signs of their workers and detect health issues early, according to CEO Badr Jafar
Abraaj
Exclusive: Abraaj founder faces second bounced cheque case over $217m payment
News comes less than two weeks after founder Arif Naqvi reached an out of court settlement with Hamid Jafar over a $300m bounced cheque case
Abraaj
Court dismisses bounced cheque case against Abraaj founder Arif Naqvi
The claimant, Crescent Group founder Hamid Jafar, agreed to the out-of-court settlement last week, according to sources