Tuesday, 16 November 2010

FT.com / Middle East - Hard man battles to complete ‘the Task’

Inside the Diwan, the Dubai Ruler’s Court and traditional seat of power, Mohammed al-Shaibani reflects on a turbulent year.

Accustomed to working in the shadows, the veteran aide to Sheikh Mohammed bin Rashid al-Maktoum has been handed the very public task of steering the emirate out of its debt crisis. Mr Shaibani has earned plaudits from some for cleaning up years of excess with an anti-corruption campaign, but criticism from others who see his moves as a political purge.

Now, in a rare interview, the director of the court says an emirate saddled with about $110bn debt still has work to do but is turning the corner. “This is definitely not a cakewalk,” he says. “During the boom we were focusing on quick returns; overseas investments. We left something very valuable behind – that Dubai is about logistics, re-exports, tourism and services. That’s what we’re about.”

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