Emir revamps board of Qatar Investment Authority

HH the Emir Sheikh Tamim bin Hamad al-Thani has issued an Emiri decision restructuring the board of directors of Qatar Investment Authority.

According to the Emir decision No 74 of 2013 membership of the board, under the chairmanship of HH the Emir, will be as follows:

* HE Sheikh Abdullah bin Hamad bin Khalifa al-Thani, vice-chairman.
* HE Ali Sharif al-Emadi: member.
* HE Sheikh Ahmed bin Jassim bin Mohamed al-Thani: member.
* HE Sheikh Abdullah bin Saud al-Thani: member.
* HE Dr Hussein Ali al-Abdullah: member.

The decision also stipulates that the Board membership duration shall be three years, renewable for another similar period or other similar periods.

The Emiri decision annulled the abovementioned Emiri decision No 13 of 2012 and annulled any provision contravening its rules.

As per Emiri decision No 75 of 2013, Ahmed al-Sayyed has been appointed as chief executive officer of Qatar Investment Authority.

The decision annulled any provision contravening its rules.

Meanwhile, the Emir has also issued Emiri Decision No 72 of 2013 amending some provision of Emiri Decision No 37 of 2001 establishing the Supreme Council for Economic Affairs and Investment.

According to the decision the text of Article 6 of Emiri Decision No 37 of 2001 is to be replaced by the following text:

The Council consists of the Emir as Chairman and the membership of:

* Prime Minister and Interior Minister: vice-chairman.
* Minister of Energy and Industry: member.
* Minister of Finance: member.
* Minister of Economy and Trade: member.
* Governor of Qatar Central Bank: member.
* Economic Advisor at the Emiri Diwan: member.
* Representative of Qatar Investment Authority: member.
* Representative of Qatar Development Bank: member.

The decision stipulated that the two bodies referred to in item 7 and 8 shall nominate their representatives in the Council’s membership, and that the formation of the Council may be amended or new members may be introduced by an Emiri Decision.

The decision annulled any provision contravening its rules.

Source: Gulf Times
Image: pinoy.qfw in the QL Flickr Group