Dubai’s public prosecutor has charged seven businessmen with crimes related to an alleged scheme to defraud Dubai Islamic Bank of $501m, official records show.

The bill of indictment, seen by the Financial Times, alleges the crimes were committed between 2004 and 2007 by two former bank employees and five businessmen linked to CCH, a trade finance company, and the Plantation, a real estate project in Dubai.

The case, which is expected to go to court soon, is likely to become a test for the emirate’s judicial system as questions swirl about the rule of law in the Gulf’s commercial centre.

The move lays the ground for the conclusion of the DIB fraud case, which is central to a broader clean-up at state-linked companies, including Deyaar, DIB’s real estate arm.

Financial Times, The National