Dubai is fighting to preserve the reputation of its embryonic international financial centre following the shock decision to dismiss the two men in charge of setting up its regulatory system.
Representatives of the developer, the Dubai International Financial Centre (DIFC), and of the two sacked executives, Ian Hay Davison and Phillip Thorpe ? respectively the former chairman and chief executives of the regulator, the Dubai Financial Services Authority (DFSA) ? are now embroiled in an increasingly acerbic dispute over the reasons for the dismissals.
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