Bayan Pay News Today

Prism Groups Swiss subsidiary Global Fintech Investments and Abu Dhabis Royal Strategic Partners signed a share purchase agreement to buy Finablr, which is listed on the London Stock Exchange, in December. Finablr, whose companies include the UAE Exchange, Xpress Money, Bayan Pay, Remit2India and Unimoni brands, is being restructured after the group reported undiscovered liabilities in May last year that mean its debts were $1 billion higher than the $334 million reported in its last filed acco...

Finablr, which includes the UAE Exchange, Xpress Money, Bayan Pay, Remit2India and Unimoni brands, has endured a torrid year linked to problems at Mr Shettys companies that led to billions of dollars worth of undiscovered debts being uncovered. Mr Shetty has claimed he is the victim of a fraud perpetrated by former managers, who forged cheques and other documents without his knowledge. Finablr floated in April last year in a deal that valued it at £1.23 billion ($1.66bn), but its shares were s...