The UAE said on Monday that Mubarak Rashid Khamis Al Mansouri has been appointed as the new governor of the country’s central bank, replacing Sultan Nasser Al Suweidi.

The move was announced as part of a federal decree issued by UAE President Sheikh Khalifa bin Zayed Al Nahyan to restructure the board of directors of the Central Bank of the UAE. Mansouri is the chief executive of Emirates Investment Authority, a federal investment fund.

According to the decree, Khalifa Mohammed Al Kindi will be chairman, Khalid Juma Al Majid, vice chairman, and Younis Haji Al Khoori, Khalid Ahmed Al Tayer, Khalid Mohammed Salem Balama and Hamad Mubarak Bu Amim will be board members. All will serve a four-year term, official news agency WAM reported.

Mansouri, who served as a central bank board member in the past, also sits on the board of the stock market regulator, the Securities and Commodities Authority, as well as telecom operator Etisalat, Abu Dhabi Securities Exchange and some other Abu Dhabi entities.
Mr. Mubarak Rashed Khamis Al Mansouri has been the Chief Executive Officer of Emirates Investment Authority since May 2008. Mr. Al Mansouri has been Governor of Central Bank of United Arab Emirates since September 23, 2014. He served as General Manager of The Abu Dhabi Retirement Pensions & Benefits Fund. He serves as Director at Arab International Bank, Abu Dhabi National Co., Securities & Commodities Authority of UAE (SCA), Etisalat Misr in Egypt, Emirates Telecommunications Corporation and Etihad Etisalat Company. Mr. Al Mansouri has been Director at Abu Dhabi Securities Exchange since May 2010. He has been a Director of Central Bank of United Arab Emirates since September 23, 2014. He served as Director at Abu Dhabi Holding and National Central Cooling Company PJSC. In 1994, he worked on establishing the âEURË UAESwitchâ which started operations in 1996 and was able to connect all bank ATMs in the UAE. He has Master’s degree in Finance from University of West Florida, USA.