Al Ghurair named DIFC board chairman

Dubai, April 16, 2012

Dubai International Financial Authority, the governing body of the emirate’s offshore financial district, has appointed Abdul Aziz Al Ghurair as the new chairman of its board.

Al Ghurair, who is the chairman of Dubai lender Mashreq bank, brings a wealth of knowledge and experience from his current and former appointments on several major boards in the public and private sectors.

He had earlier been the deputy chairman of the board of DIFC, which since 2004 has been a financial free zone for 800 firms, including 21 of the top 30 global banks, global asset managers, insurers and law firms.

Announcing the decision, Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and President of DIFC, said, 'Al Ghurair is one of the founders of UAE’s banking industry, and his business acumen is matched by very few in the region.'

'I am confident that his extensive experience will help DIFC successfully execute its strategy, and further strengthen its position as a global hub of business and finance,' he noted.

Commenting on his appointment, Al Ghurair said, “It gives me great pride to be entrusted by Sheikh Maktoum to take on this challenging role. Under his leadership, substantial strides have been taken to position DIFC as a global financial hub, and I look forward to working with the board and management team to build on these achievements.”-TradeArabia News Service

Tags: Mashreq | Al Ghurair | board | Chairman | Dubai International Financial Authority |