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Banking 101: How Merali schooled teachers with crafty Spire Bank deal

 

The late Billionaire businessman Naushad Merali. [Courtesy]

Naushad Merali, the billionaire businessman who died last July, wanted to have his cake and eat it too. And he succeeded.

But in the process, Merali ended up eating the homework in the sale of Spire Bank, formerly known as Equatorial Commercial Bank...

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