Jul 26 2011 |
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Dubai Appoints Abdullah Saleh New DIFC Governor
Tuesday, Jul 26, 2011RIYADH (Zawya Dow Jones)--Dubai's ruler Monday appointed Abdullah Mohammed Saleh as the new governor for the emirate's financial hub Dubai International Financial Centre , or DIFC .
Saleh, who is currently the chairman of the Dubai Financial Services Authority , replaces Ahmed Humaid Al Tayer, who was also the chairman of Emirates NBD (EMIRATES. DFM), according to a decision by Sheikh Mohammed bin Rashid al-Maktoum posted on the official WAM news agency.
The news agency did not give a reason for the move but said it was effective immediately.
The DIFC , which was set up in 2002, is a financial free zone for several services such as banking, capital markets, Islamic finance as well as business processing operations.
The financial free zone's contribution to Dubai's GDP was about 3.6%, he added.
-By Summer Said, Zawya Dow Jones; +966 546 842 373;
summer.said@dowjones.com
Copyright (c) 2008 Dow Jones & Company, Inc.
(END) Dow Jones Newswires
26-07-11 0402GMT
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