UAE Central Bank headquarters in Abu Dhabi. Image Credit: Abdel-Krim Kallouche/Gulf News Archives

Abu Dhabi: President His Highness Shaikh Khalifa Bin Zayed Al Nahyan on Monday issued a Federal Decree restructuring the board of directors of UAE Central Bank.

Mubarak Rashid Khamis Al Mansouri has been appointed as the new central bank governor for a four-year term, replacing Sultan Nasser Al Suweidi, who was the governor since 1991.

The newly appointed governor is the chief executive officer of Emirates Investment Authority, a federal investment fund.

The decree stipulates that the members will have a four-year tenure. The board members include Khalifa Mohammad Al Kindi as Chairman of the board, Khalid Juma Al Majid as Deputy Chairman, and Mubarak Rashid Khamis Al Mansouri as Governor.

The decree named the following as board members: Younis Haji Al Khouri, Khalid Ahmad Humaid Al Tayer, Khalid Mohammad Salem Belama and Hamad Mubarak Bu Umaim.

The decree, which stipulates that all relevant bodies must implement this decree, which annuls any resolutions that contradict its bylaws, will be published in the official gazette from the date of its issuance.