7 September 2011 — Appointment of DFSA Chairman and Board
Dubai, 7 September 2011: The Deputy Ruler of Dubai, His Highness Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum in his capacity as President of the Dubai International Financial Centre (DIFC), appoints Mr Saeb Eigner, as the new Chairman of the Dubai Financial Services Authority (DFSA). His Highness also appointed the existing DFSA Board Members for a further three-year term.
Mr Eigner said, "The DFSA has strengthened its reputation as a world-class regulator under the leadership of the former Chairman Mr Abdullah Saleh, who takes on his new responsibility as Governor of the DIFC. I look forward to continuing to work with my colleagues and to leading the DFSA in its vital role as the regulator of the DIFC. In doing so I am fortunate to have a highly respected and experienced international Board of Directors and an excellent Executive team.
The DFSA looks forward to continuing to fulfill the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Ruler of Dubai, to position the DIFC as a global financial Centre with strong and independent regulation." Mr Eigner said that one of his key priorities is the DFSA's continued engagement with international standard-setting bodies and regulators, as well as the implementation of international regulatory standards.
Mr Paul Koster, Chief Executive of the DFSA, warmly welcomed the appointment of the new Chairman and the stability provided by the re-appointment of Board members.
The DIFC is the purpose built financial centre in Dubai which has attracted more than 250 financial firms, including many of the world's largest institutions.
The DFSA Board comprises:
Saeb Eigner, as Chairman;
Fadel Abdulbaqi Al Ali;
Abdul Wahid Al Ulama;
The Honourable Apurv Bagri;
Michael Blair QC;
Robert L Clarke;
Lord Currie of Marylebone;
The Earl of Home;
J Andrew Spindler;
Georg Wittich; and
Paul Koster, in his capacity as Chief Executive.