20 April 2008 — DFSA Board Announces Chief Executives’ Retirement

The Board of the Dubai Financial Services Authority (DFSA) today announced the decision of Chief Executive, Mr. David Knott, to retire from full time employment at the end of 2008, coinciding with his 60th birthday.

DFSA Chairman, Mr. Abdullah Saleh, said: “David Knott has been an outstanding Chief Executive who has brought widespread leadership and regulatory experience to the DFSA since his appointment in early 2005.

We have been fortunate in having David lead the DFSA during a period of dynamic growth and development for the Dubai International Financial Centre (DIFC). Although we are sorry to be losing him at the end of the year, we understand his desire to retire after a long and distinguished career in the private and public sectors. The international recognition and high reputation gained by the DFSA during David’s term of almost four years reflect the success of his achievements.

The Board is delighted to note the announcement by His Excellency Dr. Omar Bin Sulaiman, Governor of the DIFC, that David has accepted an invitation to continue as a DFSA Board Member after he steps down as Chief Executive.

The Board is committed to selecting a successor to David who will continue to command respect and confidence as Chief Executive of the DFSA. A selection process will be undertaken by the Board to ensure a smooth handover of responsibilities at the end of the year.”