| Kippreport.com

Network of… Riad Kamal

January 6, 2011 4:11 by shafeer

Riad Kamal has been a naughty boy. This week he was slapped on the wrist by the Securities and Commodities Authority of the UAE for breaking trading rules. Kamal has been banned from trading for six months, either directly or indirectly. His crime? He sold some shares in the lead up to large announcements, which isn’t allowed. It doesn’t seem to have been a major transgression, however – the shares gained value after the announcements so he didn’t make any money. Nonetheless the SCA felt a slap on the wrist was warranted.

Riad Burhan Taher Kamal earned a Bachelor’s degree and then a Masters in Civil Engineering from the University of London back in the mid 60s. He duly became a civil engineer with Shaheen Engineering & Contracting Co. until 1970, when he joined the Robert McAlpine Engineering Co. From 1974 he was GM of Arabtec Construction, and from here became Managing Director and CEO of Arabtec Holding.

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