Sheikh Ahmed bin Saeed’s New Role

Dubai’s ruler, Sheikh Mohammed bin Rashid al Maktoum, has appointed Sheikh Ahmed Bin Saeed Al Maktoum as chairman of the Dubai World. Sheikh Ahmed, who is around 50 years old, is also the head of Emirates Airlines and president of the Dubai Civil Aviation Authority.

In 2009, during the economic crises Dubai’s ruler had appointed Sheikh Ahmed chairman of the Supreme Fiscal Committee to guide the Emirate of Dubai through the crisis. Just over a year ago, Dubai World announced that it’s in debt with over $24.9 billion of loans when it asked for the loan payments to be delayed. The board’s responsibility is to study the investments in the Dubai World and in any other project it should invest in furthermore, the board will study the restructuring of the company. The board will hold a meeting once every two months on the invitation of the Chairman.

Filed under United Arab Emirates
Tagged Emirate of Dubai, Sheikh Ahmed bin Saeed Al Maktoum, Sheikh Mohammed bin Rashid Al Maktoum.

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