FSF pointers for the ‘majidologists’

For those who watch the manoeuverings of the senior levels of Dubai Inc – “majidologists”, I like to call them – there is much to mull over in last week’s appointment of a permanent board to oversee the emirate’s response to the global financial crisis.

The naming of a six-man team to oversee the disbursement of cash from the Financial Support Fund (FSF) clarifies Dubai’s recovery strategy, and gives intriguing hints at the shifting power structure at the highest levels of the Ruler’s court, which in turn reflects the new priorities and imperatives of the emirate.

The task is to manage the allocation of the fund’s resources. “The new board’s primary duty will be to prepare and adopt the criteria to be used in the allocation of funds for Dubai’s strategic revenue-generating projects,” said the chairman, Abdul Rahman al Saleh.