Sheikh Mohammed forms Dubai Investment Fund to oversee government investments – Gulf Today

Sheikh Mohammed forms Dubai Investment Fund to oversee government investments – Gulf Today

Sheikh Mohammed Bin Rashid Al Maktoum.

His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, has issued Law No. (25) of 2023 establishing the Dubai Investment Fund as an independent public entity operating on a commercial basis.

The Law also endows the Fund with the financial and administrative independence to pursue its objectives along with the legal mandate to do so.

Furthermore, Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, issued Dubai Executive Council Resolution No. (94) of 2023 related to the formation of the Fund’s Board of Directors chaired by Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum, First Deputy Ruler of Dubai.

Meanwhile, Abdulrahman Saleh Al Saleh will serve as Vice Chairman of the Board, with Abdulaziz Mohammed Al Mulla, Rashid Ali Bin Obood, and Ahmad Ali Meftah as members.

As per the Law, Dubai Investment Fund will be responsible for investing Dubai Government funds, surpluses and the general reserve locally and internationally. The investments thus made will seek to generate returns benefiting both current and future generations while implementing best practices and the investment policy approved by the Fund’s Board of Directors.

The Fund also seeks to