Nasdaq Dubai announces new board of directors

14 June 2010

Abdul al-Fahim appointed as chairman

Nasdaq Dubai has announced the appointment of a new board of directors, led by Abdul al-Fahim as chairman.

Al-Fahim currently serves as group deputy chief executive of wholesale banking at Emirates NBD, the Middle East’s largest bank by asset size.

The other new directors are:

Majid Saif al-Ghurair, chairman of Shuaa Capital and chief executive of the Al-Ghurair Private Company.

Rashid al-Shamsi, vice chairman of Dubai Financial Market (DFM) and chief executive of Sama Dubai.

Abdulla Ghobash, regional director in the Northern Emirates of National Bank of Abu Dhabi.

Edward Knight, executive vice president and general counsel of the Nasdaq OMX Group.

Jamal Nasser Lootah, board director of Nasser Rashid Lootah Group and chairman of the Governing Board of the OPEC Fund for International Development in Vienna.

The new eight-member board also includes two directors who have been re-appointed: Essa Kazim, managing director and chief executive of DFM and Chairman of Borse Dubai, and George Moller, chairman of the Supervisory Board of the Netherlands Authority for the Financial Markets.

It is hoped the board will drive Nasdaq Dubai’s expansion and development following its acquisition last month by DFM.

In December 2009, the DFM, part of Nasdaq Dubai’s parent company, Borse Dubai, announced a $121m take-over offer in a bid to buoy trading volumes and overall liquidity.

“The new Board of Directors brings a wealth of regional and international expertise to Nasdq Dubai, as we prepare for further listings and liquidity growth,” says Jeff Singer, chief executive of Nasdaq Dubai.

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