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Mubarak Al Mansouri appointed new central bank governor [Gulf News (United Arab Emirates)](Gulf News (United Arab Emirates) Via Acquire Media NewsEdge) Abu Dhabi President His Highness Shaikh Khalifa Bin Zayed Al Nahyan on Monday issued a Federal Decree restructuring the board of directors of the UAE Central Bank. Mubarak Rashid Khamis Al Mansouri has been appointed as the new central bank governor for a four-year term, replacing Sultan Nasser Al Suweidi, who was the governor since 1991. The decree stipulates that the members will have a four-year tenure. The board members include Khalifa Mohammad Al Kindi as Chairman of the board, Khalid Juma Al Majid as Deputy Chairman, and Mubarak Rashid Khamis Al Mansouri as Governor. The decree named the following as board members: Younis Haji Al Khouri, Khalid Ahmad Humaid Al Tayer, Khalid Mohammad Salem Belama and Hamad Mubarak Bu Umaim. The decree, which stipulates that all relevant bodies must implement this decree, which annuls any resolutions that contradict its bylaws, will be published in the official gazette from the date of its issuance. On board: The newly-appointed governor Al Mansouri is the chief executive officer of Emirates Investment Authority, a federal investment fund. He has a Master's degree in Finance from University of West Florida, United States of America. Al Mansouri is also on the board of Abu Dhabi National Co. for Building Materials, Emirates Telecommunications Corp., Arab International Bank, and Etihad Etisalat Co. Besides, he is also a board member of Abu Dhabi Securities Exchange (ADX), Securities & Commodities Authority of UAE (SCA) and Etisalat Misr in Egypt. He was previously employed as General Manager by The Abu Dhabi Retirement Pensions & Benefits Fund. Meanwhile, in his tenure as the Governor, Sultan Nasser Al Suweidi was reportedly able to introduce or modernise many banking regulations. In 1994, he worked on establishing the ‘UAESwitch' which started operations in 1996 and was able to connect all bank ATMs in the UAE. The main responsibility of the UAE central bank is to formulate and implement banking, credit and monetary policies, to ensure the growth of the economy in a balanced manner. (c) 2014 Al Nisr Publishing LLC . All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info). |