UAE frees American hunger striker on bail
Source: BI-ME with Reuters , Author: Posted by BI-ME staff
Posted: Fri July 13, 2012 8:51 pm

UAE. The United Arab Emirates has freed on bail an American businessman accused of embezzlement who has been in jail in the Gulf Arab state since 2008 and went on hunger strike in May, the U.S. embassy said on Friday.

Washington had repeatedly called for Zack Shahin's case to be resolved. He had 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.

Earlier this month, the UAE offered Shahin AED5 million dirham (US$1.36 million) bail.

"I can confirm that (Shahin) was released on Thursday and that consular officials met him upon his release," a spokesman for the U.S. embassy in Abu Dhabi said.

"We look forward to him being able to pursue his criminal case through the UAE judicial system."

Shahin is due to have two court hearings later this month when a verdict could be handed down in his case, his lawyer told Reuters just over a week ago.

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: June 27, 2016
INTERNATIONAL. Markets participants are on edge and with many questions unanswered post the Brexit victory adding to the uncertainty, investor risk appetite has diminished.
date:Posted: June 27, 2016
UAE. Global mobile usage intensifies, fueled by increased device penetration. Smartphone and tablet penetration are all increasing, with wearables experiencing the highest growth rate with roughly 10 percent global penetration - nearly doubling ownership rates from last year.
date:Posted: June 23, 2016
SAUDI ARABIA. The NTP aims to boost non-oil revenue by 2020 through more than 500 initiatives including the implementation of new taxes and increasing government fees and taxes on "harmful products."
UAE. Global mobile usage intensifies, fueled by increased device penetration. Smartphone and tablet penetration are all increasing, with wearables experiencing the highest growth rate with roughly 10 percent global penetration - nearly doubling ownership rates from last year.
dhgate