Financial Times FT.com

Dubai's Islamic bank mystery and the case for reform

By Roula Khalaf

Published: June 24 2008 03:00 | Last updated: June 24 2008 03:00

What's going on with Dubai Islamic Bank? The emirate's financial community is abuzz with speculation, following a spate of arrests of former employees in a widening corruption probe.

Much to the disappointment of business, the details of the inquiry into the city's largest Islamic bank are a mystery. Also unclear is whether there is any connection to another probe into Deyaar Development, DIB's real estate affiliate.

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