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Alternative Market Briefing

Forsyth closure of Dubai office may caused by overzealous application by the DFSA of its capital adequacy rules and not lack of finance in the Forsyth Group

Wednesday, September 05, 2007

An Opalesque reader has alerted Opalesque that the Forsyth closure of its Dubai office may as well be as a result of the DFSA's overzealous capital adequacy ratios that are based upon original business plans which are reliant upon the "extremely optimistic" predictions of the DIFC projections as to how much money is floating around the region. "For example, if original business projections were expenditure $200 000 per month and income of $250 000  then capital adequacy req......................

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