United Arab Emirates News

Dubai’s Financial Horizon Transformed: Sheikh Mohammed Bin Rashid Al Maktoum Launches Dubai Investment Fund

In a visionary stride towards financial autonomy and sustainable growth, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, has enacted a groundbreaking law to establish the Dubai Investment Fund. This move signifies a pivotal shift in Dubai’s economic landscape, empowering the fund as an independent public entity operating on a commercial basis.

Financial Empowerment:

The Dubai Investment Fund is vested with the authority to strategically invest Dubai government funds, surpluses, and the general reserve on a global scale. The primary objective is to generate substantial returns that will benefit both current and future generations of Dubai’s populace. This financial independence is a crucial step in enhancing the emirate’s economic resilience and ensuring long-term stability.

Strategic Priorities and Sustainable Development:

Aligned with Dubai’s strategic priorities, the fund is poised to play an active role in realizing endorsed public policies. By prioritizing strategic and development projects across vital sectors such as the economy and society, the fund aims to foster sustainable development while diversifying income sources. This marks a significant commitment to Dubai’s long-term prosperity.

Board of Directors Leadership:

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Crown Prince of Dubai, has issued a resolution forming the Board of Directors for the Dubai Investment Fund. Chaired by Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, the board comprises distinguished members, including Abdulrahman Saleh Al Saleh and Abdulaziz Mohammed Al Mulla. The latter has been appointed as the Managing Director and CEO of the Fund, bringing a wealth of expertise to lead its strategic initiatives.

Diverse Investment Portfolio:

The Dubai Investment Fund’s mandate spans a diverse investment portfolio, including stocks, bonds, securities, movable and immovable assets, and active participation in financial derivatives. The fund has the flexibility to independently or collaboratively establish companies, acquire or merge entities, and engage dynamically in financial markets. This approach reflects a forward-looking investment strategy to maximize returns.

Organizational Structure and Leadership:

The law provides a comprehensive framework for the organizational structure of the Dubai Investment Fund. It outlines the composition and responsibilities of the Board of Directors, emphasizing transparent and efficient governance. The appointment of the CEO, a pivotal leadership role, will be determined by the Chairman of The Executive Council of Dubai.

Government Entities Transition:

The Dubai Investment Fund assumes a transformative role as the Dubai Government’s vested authority, taking ownership of shares in entities such as the Dubai Electricity and Water Authority (Dewa), Salik Company, and Dubai Taxi Company. This strategic transition relieves the government of associated rights and obligations, streamlining its focus on broader economic goals.

In conclusion, the establishment of the Dubai Investment Fund marks a paradigm shift in Dubai’s financial strategy, embodying the leadership’s commitment to financial independence, sustainable development, and strategic investments that will shape the emirate’s economic future.

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