Banking & Finance
Goldman Blacklisted in Abu Dhabi in Fresh Blow From 1MDB Scandal

An Abu Dhabi-controlled investment fund has halted new business with Goldman Sachs Group Inc., adding to the growing fallout for the U.S. bank from its role in the 1MDB corruption scandal.
“We have suspended any activities with Goldman Sachs pending outcome of our existing litigation,” Brian Lott, a spokesman for Mubadala Investment, said in a statement. “The only exceptions are engagements signed prior to the litigation, which will continue as per contractual terms.”
The decision follows legal action being pursued by units of Mubadala to seek damages from the bank for what it calls its “central role” in the 1MDB scandal. International Petroleum Investment Co. and Aabar Investments declared their intent to sue Goldman Sachs in November in a New York state court.
The move had left a cloud over Goldman’s business in a region that’s much more lucrative for it than Malaysia, where the saga originated. A Goldman Sachs spokesman didn’t immediately return requests for comment. Reuters earlier reported Mubadala’s decision to suspend ties with the New York-based firm.
-
OER Magazines2 months ago
Dossier – ToP 25 Personalities 2025
-
Dossier2 months ago
Arabic Dossier – ToP 25 Personalities 2025
-
Alamaliktistaad Magazines2 months ago
Al-iktisaad, August 25
-
OER Magazines2 months ago
OER, August 2025
-
News2 months ago
xAI Open-Sources Grok 2.5, Signaling Accelerated AI Push
-
Entertainment2 months ago
Here’s a Complete Overview of the 2025/2026 Season at the Royal Opera House Muscat
-
News2 months ago
Sultan Center Unveils Flagship Al Hail Store, Elevating Premium Retail Experience in Oman
-
News2 months ago
HONOR, in partnership with MHD-ITICS Debuts at COMEX in Muscat, Expanding Its Presence in the GCC
You must be logged in to post a comment Login