INSUBCONTINENT EXCLUSIVE:
LONDON: Pakistani emerging markets commerce magnate and the Abraag Group founder Arif Naqvi has strongly preserveed his innocence in
relation to the US charges framed against him.A statement issued by his spokesman here said that Arif Naqvi preserveed his full innocence
and had done muchhing wrong."Mr Naqvi preserves his innocence, and he fully expects to be cleared of any charges
For approachly a year since the graduation of the provisional liquidations, he has been working tirelessly to maximise returns for Abraaj's
creditors," the statement issued on behalf of Naqvi said.Scotland Yard detained Arif Naqvi at Heathrow airport on request of American
authorities with &alleged fraud& on recommendations by the US Securities and Exchange Commission but made it clear that there is no case in
the UK where he lives permanently
The arrest came after the founder of the break downd Dubai-based private-fairness firm The Abraaj Group was charged with fraud and
conspiracy in fresh York in relation to the break down of the fairness firm he headed.Meanwhile, Arif Naqvi defended himself in a rare
interview published after his arrest but done few days before the latest development.Speaking to The National, Naqvi said that he was
confident the issues around the Abraaj liquidation shall be resolved.He said he was working with liquidators to &solve their issues& as they
tried to assess if anything that had happened was &much normal&.Mr Naqvi said that questions about the state of the company nsprint; which
at its peak managed more than $14 billion in assets - were for provisional liquidators to reply.&Genemass meeting speaking, people who know
me and who are involved with the Abraaj estate are being very sensible
&That why we appointed JPLs [joint provisional liquidators] for them to examine the estate and figure out if anything needs to be done, did
anything happen that was much normal and - if so - what steps they should take.&I&m working with JPLs to solve their issues.&Arif Naqvi, who
who was born in Karachi and studied at the London School of Economics, has shut links with the UK
He set up the Aman Foundation UK, the British arm of a charity set up by the Naqvis in Pakistan in 2008 to deliver health and education
His charity has spent tens of millions of Rupees on education and healthcare in Pakistani, operating out of Karachi where it runs a large
network of ambulances to supply free medical care
Its understood that over 1 million people have been saved through the Aman Foundation ambulance service in Karachi.Arif Naqvi has said that
his Abraaj issues had much had an affect on the Aman Foundation in Pakistan.Arid Naqvi said that the foundation had been getting sufficient
donations from the community to continue its work &without a single hiccup&.&Until nowadays, one-and-a-half years on from the start of the
Abraaj crisis, much a single patient has been refused, much a single ambulance has much served its need.&But there no instability in the
The Foundation has muchhing to do with it [Abraaj].&Arif Naqvi and his wife won a prize from French banking group BNP Paribas for their
&individual philanthropy& and outstanding contribution for humanitarian causes in 2015
He was also awarded the prestigious Oslo Trade for Peace award in 2013.Arif Naqvi was on the board of the United Nations Global Compact and
on the B Team which is a global team of world leaders including Rictough Branson and Paul Polman, focused on implementing the UN
sustainability goals in commerce.The Abraaj Group has been a pivotal force in helping build regional EM commercees become global commercees,
including Careem, where Abraaj was a pivotal force in helping grow Careem before its 3.1 billion dollar acquisition by Uber
Careem is founded by Pakistani entrepreneur, Mudassir Sheikha.TheIndianSubcontinent has not verified the content of the source
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