UAE to release American hunger striker on bail
Source: BI-ME with Reuters , Author: Posted by BI-ME staff
Posted: Fri July 6, 2012 8:59 am

UAE. A court in the United Arab Emirates has offered to release on bail an American businessman accused of embezzlement who has been on hunger strike in jail since May, the U.S. embassy said on Thursday.

Washington has repeatedly called for Zack Shahin's case to be resolved. He has been detained since he was arrested in 2008 while at the helm of Dubai real estate firm Deyaar. There have been hearings in his case in Dubai, but no judgment.

Last week, the United States said it had "serious concerns" over Shahin's health and urged the UAE to release him on bail. It has also asked for more transparency in the case.

"I can confirm that conditions for bail have been set at AED5 million (US$1.36 million)," a spokesman for the U.S. embassy in Abu Dhabi told Reuters.

Shahin's lawyer said he hoped to secure his release early next week.

"There was a concern whether he would be able to accumulate the money. But we are certain now that the funding can be arranged," Erik Akers told Reuters.

He said that some funds had already been transferred and the remaining amount needed to come from the United States.

"With the weekend coming, he may not be released until Sunday or Monday," he added.

Shahin is due to have two court hearings later this month when a verdict could be handed down in his case, the lawyer said.

In May, four other expatriates jailed in Dubai said they had gone on hunger strike to protest against the lengthy prison sentences handed down to them for bouncing cheques - a criminal offence in the UAE.

The men, most of them real estate developers and businessmen who worked in Dubai during its economic boom, fell into debt when the emirate's property bubble burst after the 2008 global credit crisis.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: November 25, 2014
INTERNATIONAL. In the end, it is unlikely that the territorial Islamic State can survive. The truth is that Turkey, Iran and Saudi Arabia are all waiting for the U.S. to solve the problem with air power and a few ground forces. These actions will not destroy IS, but they will break the group's territorial coherence.
date:Posted: November 25, 2014
BAHRAIN. The "increasingly deregulated and competitive economic environment is facilitating rapid growth in business development within the private sector."
date:Posted: November 25, 2014
INTERNATIONAL. Participants in the global oil market are eagerly awaiting the Opec meeting on November 27, which could potentially set the tone and the direction of oil prices.
INTERNATIONAL. In the end, it is unlikely that the territorial Islamic State can survive. The truth is that Turkey, Iran and Saudi Arabia are all waiting for the U.S. to solve the problem with air power and a few ground forces. These actions will not destroy IS, but they will break the group's territorial coherence.
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