Dubai’s Ruler Trims Investment Corporation’s Board

Dubai’s ruler has trimmed the board of Investment Corporation of Dubai (ICD), the emirate’s investment arm, cutting it down to five members from six, state news agency WAM reported on Tuesday.

Dubai’s ruler Sheikh Mohammed bin Rashid al-Maktoum will continue as the chairman and Dubai crown prince, Sheikh Hamdan bin Mohammed al-Maktoum, will remain vice-chairman, WAM said citing a decree by the ruler.

The other board members are Sheikh Maktoum bin Mohammed al-Maktoum, ICD Chief Executive Mohammed al-Shaibani and Emirates airline Chairman Sheikh Ahmed bin Saeed al-Maktoum, who is also the ruler’s uncle.

Ahmed Humaid al-Tayer is no longer part of the board.

Tayer, a former governor of the Dubai International Financial Centre, was also chairman of Emirates NBD until last November when he was replaced by Sheikh Ahmed.