His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, in his capacity as Ruler of Dubai, on Tuesday issued Decree No. 17 of 2012 setting up the board of the Investment Corporation of Dubai (ICD).
Shaikh Mohammad will be the chairman of the board. The board members will include Shaikh Hamdan Bin Mohammad Bin Rashid Al Maktoum, Dubai Crown Prince, the vice-chaiman of the board, and Shaikh Maktoum Bin Mohammad Bin Rashid Al Maktoum, Deputy Ruler of Dubai, Shaikh Ahmad Bin Saeed Al Maktoum, President of Dubai Civil Aviation and Chairman and Chief Executive of Emirates Airline and Group, and Mohammad Ebrahim Al Shaibani, Director of the Dubai Ruler’s Court, who will also serve as Chief Executive of ICD.
The decree comes into effect from the date of its issuance and is to be published in the official gazette. The third article of the decree states that any resolutions issued by board members appointed through Decree No. 50 of 2009 until May 2012, and up to the date when this current decree comes into effect, were carried out in a legal manner.
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