Mubarak Rashid Khamis al-Mansouri has been appointed as governor of the Central Bank of the UAE. He replaces longstanding governor Sultan al-Suwaidi.

Al-Mansouri has been CEO of Emirates Investment Authority since May 2008, and sat on the board of various organisations including Etisalat, Abu Dhabi Securities Exchange (ADX), the UAE’s Securities & Commodities Authority, Mobily in Saudi Arabia, and Abu Dhabi National Company for Building Materials (Bildco).

He began his career at Abu Dhabi Investment Authority in 1991, and went on to become director-general of Abu Dhabi Retirement Pensions & Benefits Fund since its establishment in 2000.

Al-Mansouri will serve a four-year term as governor of the central bank together with other board members. Khalifa Mohammed al-Kindi is the chairman of the board, Khalid Juma al-Majid will be vice-chairman, and the other board members will be Younis Haji al-Khoori, Khalid Ahmed al-Tayer, Khalid Mohammed Salem Balama and Hamad Mubarak Bu Amim.