KYC report on Emirati healthcare group

We were asked to examine a private healthcare group running hospitals and clinics with the aim of understanding how reputable it was, how involved the original founders were in decision-making and how the group treated its partners. The subject had grown rapidly, not without teething problems, and sources were critical of how it operated. 

Many senior staff had left and CbI discovered the company had serious cash flow problems and also suffered from a top-down micro-management by its chairman. CbI’s findings – based on solid local sources working in the healthcare sector – helped the client make a decision on whether to engage with the subject company.

Sources for the report included: senior former employees from the body that operates public hospitals and clinics in the emirate; former group COO and CFO of the subject; a senior executive at the government health department and sources in a company that had a collaboration with the subject.

KYC on Saudi businessman

We carried out an extensive due diligence on one of the businesspeople arrested during the November 2017 ‘Ritz Carlton affair.’ CbI was asked to provide details and an assessment of the subject’s political and business connections, his settlement with the Saudi authorities, legal disputes and other reputational concerns or red flags. We also undertook enquiries in another country (the second country) where the subject had major operations.

Sources for the report included: relatives of the subject based in Riyadh; a government official; a former financial adviser of the subject; a former business associate; the head of the second country’s largest economic media group; a specialist journalist with a legal background and business sources based in both countries.

KYC Report in Egypt

For a corporate client we provided a detailed KYC report on an executive in a powerful decision-making position at a large Egyptian-owned industrial conglomerate. The report used interviews with primary sources to develop a fully-corroborated career history and to provide context and verification for a number of claims (both positive and negative) present in mainstream and social Arabic and English language media.

Sources for the report included:  senior executives at competitor companies who knew the subject personally, former executives from his own business, an official from the relevant ministry, an official at the relevant industry body, and an official from the investment authority

KYC Report in Algeria’s energy sector

For a corporate client, we carried out a primary source-led KYC report into a low profile Algerian oil sector executive with very limited media or open source profile, verifying key elements of his career history and personal relationship, and establishing the extent of potential red flags and political exposure.

Sources used for the report included: Officials and former officials at state institutions, local oil service company, executives, and executives and former executives of IOCs operating in the country.

KYC Report in Algeria’s pharmaceutical sector

On behalf of a potential investor, we carried out a primary source-led KYC report into a privately-owned Algerian pharmaceutical company. Our primary source research work included consulting with other industry participants, regulators, officials and sources in the wider Algerian business community.

Sources used for the report included: an individual close to the owning family, an Algiers and Paris based business consultant, a source at a competitor company, and a pharmaceutical products wholesale distributor.