Former Dubai Bank chairman Hassan Zubeidi has been cited for contempt of court in a long-standing tussle with the Central Bank of Kenya (CBK) over his refusal to grant receiver managers access to Malindi-based Kemu Salt Packers – a company he fully owns.
Mr Zubeidi’s troubles are rooted in an earlier court battle with the Kenya Deposit Insurance Corporation (KDIC) – a CBK associate – that got orders to place Kemu Salt Packers under receivership to recover funds the businessman is believed to have obtained illegally from Dubai Bank.
