You have to feel for Finablr and, especially, for what must be the vast majority of people working there (many are readers of our letter) who simply might have had no idea what has been going on.
As for the investors, the lawsuits will surely follow. And the customers of two of the oldest brands in the sector, UAE Exchange and Travelex, will find replacement products if nobody saves these brands.
What’s next? Some form of bankruptcy. But with the holding’s complex ownership structure and all the current issues, even those who know these companies well will find them hard to unravel and set them on the right track.