UAE BUSINESSES WILL TURN A BLIND EYE ON FINANCIAL VIOLATORS: UAE businesses are in no mood to let the past take care of itself. These days, you are seeing empowered Board of Directors intent on taking all legal options to pursue past financial violations and done with malfeasance. In the past, the odd attempt would have been made to book offenders and take out impairment costs. Not so now. Take Invest Bank in Sharjah. They went through an intense investigation, done by a leading law firm, and found that violations had taken place in the write-off debts on the bank’s books. This had happened prior to 2019 – and now Invest Bank is going to launch legal action against offenders. And make sure that shareholder rights are protected. This was the same at the insurer Salama, Aman and the developer Union Properties. Shareholder rights are sacrosanct. No such thing as bygones be bygones in chasing down the offenders…(By Manoj Nair, Business Editor)