The firm worked with figures in some of the most notorious financial scandals of the last decade, including the massive Latin American bribery plot involving Brazilian construction company Odebrecht and the soccer corruption case known as 'Fifagate,' according to the ICIJ.
Emir Research makes its case for the government to announce an automatic loan moratorium, saying it would be a win-win situation even if some wealthy borrowers get a 'free ride'.
The government can either 'politely' ask banks or flex its muscles on renewing licences or even invoke its emergency powers, says Derek Fernandez.
They say foreign banks are moving towards consolidation in order to maximise their profits.
This is part of its policy shift towards expanding wealth management operations in 'wealth centres' where the company has best scaling opportunities.
New loan applicants should make use of the various programmes under initiatives like Penjana, they say.