Dubai International Financial Centre appoints Nasser Alshaali as Chief Executive OfficerPress Release 12 Nov 2006 12:23 pm
DIFC Governor approves the recommendation made by the nomination and remuneration committee
The Dubai International Financial Centre (DIFC) has appointed Nasser Mohammed bin Hussein Alshaali as Chief Executive Officer of the DIFC Authority, one of the main bodies of the DIFC.
His Excellency Dr Omar Bin Sulaiman, Governor of the DIFC, said: “This appointment is part of a strategy by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE, Ruler of Dubai and President of the DIFC to promote young and talented individuals to prominent roles of leadership, in order to attract innovative ideas and dynamic Management. Nasser’s knowledge in financial services will enable him to develop effective and far-reaching strategies for growth, with the assistance of other able and well-qualified existing and future teams who will have an opportunity to drive the second phase of growth of the Centre as it expands”.
“Nasser Alshaali has helped to build the DIFX into a successful exchange in just over one year, with 22 listed products. This experience and his earlier roles within leading institutions including DIFC Authority makes him the ideal choice to lead the DIFC Authority in its next phase of growth, as the DIFC attracts more financial institutions and other companies to set up offices in the only international financial centre between Western Europe and East Asia” he added.
David Eldon, Chairman of the Board, DIFC Authority said: “The DIFC works on attracting institutions within key sectors of focus which include Banking and Brokerage, Asset Management and Fund Registration, Re-insurance and captives, Islamic Finance and Ancillary Services. The appointment of Nasser to the DIFC will further enhance and grow these sectors and develop new opportunities within the DIFC..”
Mr. Alshaali said: “I am delighted to join the DIFC Authority, to contribute to its impressive achievements, and to help materialize its vision for tomorrow’s global financial map. I share the objective of creating a vibrant regional and an international market for financial services. This will help catalyze and sustain economic development for the region and will contribute to Dubai’s global competitive positioning. With a sophisticated physical infrastructure, a visionary and committed leadership and a stringent regulatory framework, the DIFC has established itself as a universally recognized hub for institutional financial services worldwide.”
Prior to this appointment, Alshaali was the Chief Operating officer at the DIFX, where he helped launch the region’s only international exchange for a range of financial products and attracted leading international and regional financial institutions and members, and leading corporations to list on the DIFX. Alshaali also saw the DIFX established as the world’s largest market for Sukuks. Prior to this, he was involved in developing the strategy of the DIFC Authority and earlier worked in a similar role with the Dubai Technology and Media Free Zone Authority (TECOM) where he was involved with developing strategy, business development and planning. As Chief Executive Officer of the DIFC Authority, Nasser Alshaali also serves on the Board of the DIFX and Dubai Statistics Center.