The UAE Cabinet has approved the restructuring of the Board of Directors of the Emirates Development Bank chaired by Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology.
The meeting, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, saw the appointment of Dr. Ahmad Belhoul Al Falasi, Minister of State for Entrepreneurship and SMEs, as a board member.
The following members were also appointed; Younis Haji Al Khoury, Undersecretary of the Ministry of Finance; Mohammed Saif Al Suwaidi, Director-General of Abu Dhabi Fund for Development; Abdul Wahed Al Fahim, Chairman of Nasdaq Dubai; and Mariam Saeed Ghobash, Vice Chairperson of Abu Dhabi Investment Company.
The Board shall serve for a three-year renewable term, and will also include Khalfan Juma Belhoul, CEO of Dubai Future Foundation; Najla Ahmed Al Midfa, Chief Executive Officer of the Sharjah Entrepreneurship Centre; and Khalfan Juma Belhoul, CEO of Dubai Future Foundation.
The decision aims to support not only the government work system, but the work system of the Emirates Development Bank.
The Emirates Development bank specialises in facilitating the real estate credit allocated for the construction, maintenance and development of buildings prepared for private housing, financing projects and agricultural crafts.