Mubasher: Qatari emir Tamim bin Hamad Al Thani issued royal decree no. 65 of 2018, appointing Mansoor bin Ebrahim Al Mahmoud as the CEO of the Qatar Investment Authority (QIA), one of the world's 10 largest sovereign wealth funds.
The decision is effective starting from its date of issue and was published in the official gazette.
Al Mahmoud replaces Qatari royal Sheikh Abdullah Bin Mohammed Al Thani after four years at the helm, state-run Qatar News Agency (QNA) reported. He served as director of Investment Affairs for Qatar’s former prime minister and was the CEO of Qatar Development Bank.
It is worth noting that QIA has around $320 billion in assets and owns stakes in international companies ranging from commodities giant Glencore Plc to British lender Barclays Plc.
After the Arab rift, the fund sold lots of its assets to inject liquidity into Qatari banks that suffered an outflow of foreign currencies.
Since 5 June 2017, Qatar has been facing outflows of foreign customers' deposits after four Arab countries led by Saudi Arabia cut their diplomatic and trade ties with the gas-rich state, accusing Qatar of financing terrorism. Doha forcefully denies the charges.