The Dubai Government said on Monday that it has established a debt management office (DMO) and appointed Rashid Ali bin Obood Al-Falasi as its chief executive.

The DMO will manage the sovereign debt portfolio and will be responsible for meeting the government's financing requirements, the government said in its statement.

(Reporting by Yousef Saba; Writing by Nadine Awadalla; Editing by Lina Najem and Toby Chopra)