Finablr relaunch plan gains traction issacjohn@khaleejtimes.com Filed on February 8, 2021
The appointment of Matrix is another significant move in consortium’s plan to recapitalise, restructure and rebuild Finablr
The UAE-Israeli consortium, which has acquired the troubled Finablr for $1, said on Monday that steps to recapitalize and revive the debt-ridden global payments solutions group gained momentum with the appointment of Matrix International Financial Services as adviser on financial compliance and fraud prevention measures.
The consortium of Prism Group and Abu Dhabi’s Royal Strategic Partners (RSP) said in a statement that it intends to revitalise Finablr “in order to secure the status of UAE Exchange and Xpress Money as key pillars of the UAE’s financial system in one of the world’s most dynamic, exciting and fastest-growing business destinations.”