Last Updated: Sun Apr 15, 2012 13:02 pm (KSA) 10:02 am (GMT)

Dubai's DIFC Authority names al-Ghurair chairman

Al-Ghurair, who is the chairman of Dubai lender  Mashreq bank, is also the deputy chairman of the board of DIFC. (File photo)
Al-Ghurair, who is the chairman of Dubai lender Mashreq bank, is also the deputy chairman of the board of DIFC. (File photo)

Dubai International Financial Centre Authority (DIFCA), the governing body of the emirate's offshore financial district, has appointed Abdul Aziz al-Ghurair as its new chairman of the board, it said in a statement on Sunday.

Al-Ghurair, who is the chairman of Dubai lender Mashreq bank, is also the deputy chairman of the board of DIFC, which since 2004 has been a financial free zone for 800 firms, including 21 of the top 30 global banks, global asset managers, insurers and law firms.

As of 2011, al-Ghurair’s net worth was estimated by Forbes to be $2.7 billion, making him the 420th richest person in the world.

Dubai's Ruler Sheikh Mohammed bin Rashid al-Maktoum named a new board for DIFC in August last year.

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