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.
-
Banking & Finance2 weeks ago
Oman Arab Bank Announces Increase of Authorised Capital to RO500mn and Paid‑In Capital Boost of RO50mn
-
Renewables2 months ago
Jindal Renewables and OQ Alternative Energy Sign Joint Development Agreement to Advance Integrated Renewable Power Projects in Oman
-
Bahrain1 week ago
SPIEF 2025 focused on global and regional economic processes, market transformation, new tech, investment climate, financial policy and people
-
Alamaliktistaad Magazines1 month ago
Al-Iktisaad, May 25
-
OER Magazines1 month ago
OER, May 2025
-
Leaders Speak2 months ago
OERLive SPOTLIGHT: Oman Sustainability Week 2025 and Oman Petroleum & Energy Show
-
Business2 months ago
St. Petersburg International Economic Forum 2025 unveils its Business Programme
-
Banking & Finance1 month ago
Central Bank of Oman Issues Regulatory Framework for Digital Banks
You must be logged in to post a comment Login