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Dubai Islamic Bank clients who invested $315M seek to wind up Cayman’s Rasmala Trade Finance Fund

Alleging regulatory breaches, at least $100 million of losses, “lack of transparency”, “mismanagement”, and the “need for independent investigation”, a British bank ultimately representing clients of United Arab Emirates-based Dubai Islamic Bank who invested $315 million has applied to wind up Rasmala Trade Finance Fund in the Cayman Islands.