Briton claims he repaid bank twice the amount

Dubai: A British businessman on Wednesday claimed in court that he repaid Dubai Islamic Bank (DIB) double the Dh1.8 billion he is charged, along with six others, with embezzling.

"DIB has been repaid the amount fully. Not once, but twice. Yet they are still claiming it for the third time.

"Is this Islamic sharia banking? Is this truthful? Is it perhaps a fraud?

"In this case there is no damage or loss accrued by DIB — DIB should honourably admit that they recovered the money," C.M., 49, said, addressing the Dubai Court of First Instance.

DIB's former financing department manager 39-year-old Pakistani, U.H., and his 50-year-old compatriot deputy, R.U., denied helping four of the suspects.

At large

The four suspects were three British businessmen, C.M., 54-year-old R.L., 58-year-old A.F. and 36-year-old Turk A.I. who is at large.

U.H. and R.U. were also charged with allowing an American, Z.U., also at large, to embezzle $2 million (Dh7.36 million).

DIB's lawyer Hassan Arab said the suspects set up bogus companies, forged documents and submitted them to the bank to finance projects.

All suspects pleaded not guilty. A verdict will be heard on April 27.