It will set financial and economic policy and will oversee the approval of strategies for a number of state-owned entities including Adnoc, Mubadala Investment Company, Abu Dhabi Investment Authority and holding company ADQ. In this role, he also spearheaded many initiatives to get the pulse of the people and know their sentiments, as well as build the UAEs long-lasting relations with international organizations such as the World Economic Forum. The Abu Dhabi Investment Council was splintered off from the Abu Dhabi Investment Authority (ADIA) . Last edited on 23 February 2023, at 20:27, Bank of Credit and Commerce International, International Forum of Sovereign Wealth Funds, "Top 100 Largest Sovereign Wealth Fund Rankings by Total Assets", "Gulf sovereign wealth funds among world's least transparent", "Biggest Gulf Wealth Funds Are Faulted for Lagging on Governance", "Cash-Rich, Publicity-Shy, Abu Dhabi Fund Draws Scrutiny", "Money and mystery: Adia unveils its secrets", "Generally Accepted Principles and Practices (GAPP)Santiago Principles", https://www.swfinstitute.org/fund-rankings/sovereign-wealth-fund, "The Abu Dhabi Investment Authority is a Buyer of Hotels Sovereign Wealth Fund Institute", "Abu Dhabi Power to take control of TAQA in asset swap", "Abu Dhabi Investment Authority Publishes 2012 ADIA Review", "Sheikh Ahmed Bin Zayed Al Nahyan: 1969-2010", "H.H. It is the responsibility of Banks Board of Directors to: Control activities are closely monitored across the Bank by the Banks internal audit function, working independently of management. Eissa Al Suwaidi holds the post of Chief Executive Officer at Abu Dhabi Investment Council, United Arab Emirates. Its board of directors, which is made up of members nominated by the two companies, is responsible for directing the company's independent strategy and developing its business. Abu Dhabi Investment Authority - Wikipedia Any additional work proposed to be performed by the external auditor is reviewed by and approved by the Audit Committee on an item-by-item basis. The Banks internal controls over financial reporting include policies and procedures that (i) are designed to ensure maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the Bank; (ii) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with accounting principles, and that receipts and expenditures of the Bank are being made only in accordance with authorizations of management and directors of the Bank; and (iii) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the Banks assets that could have a material effect on the financial statements. Dr. Sultan Ahmed Al Jaber is a member of the UAE Federal Cabinet, Minister of Industry and Advanced Technology and Group CEO of the Abu Dhabi National Oil Company (ADNOC). Member of the Board of Directors of the Commercial International Bank, Deputy Director of the Excellent Financial Services company, Financial and strategic advisor Noor Bank, Member of the Board of Directors of the Commercial International Bank (CBI), Head of the Institutional Performance Measurement Department within the Strategic Planning Sector, Abu Dhabi Municipality. Dr. Al Jaber is Chairman of the Board of Trustees of the Mohamed bin Zayed University of Artificial Intelligence, the Worlds first graduate-level, research based AI University. In driving ADNOCs 2030 strategy toward a more profitable upstream, more valuable downstream and more sustainable and economic gas supply, Dr. Al Jaber has also led a digital transformation at the company. ADIA Lab, the independent research institute dedicated to basic and applied research in data and computational sciences, commenced operations today, the 51st National Day of the UAE.As part of its launch, the Lab announced the composition of its Advisory Board, the details of its first academic collaborations, and launched a US$ 100,000 research award. to the UAEs economy. She also has an MBA in International Finance and is a member of the Institute of Management Accountants, IMA. Shareholder support H.E. Advisor to the Nigerian Minister of Communications. Lecturer & Head of Legal Affairs, High Commercial Institute, Kuwait, Published books on law that are adopted as text books in UAE and Kuwait University respectfully, Legal Advisor and Head of Legal Office; Ministry of Economy & Commerce, UAE, Legal Advisor of the Executive Council of the Emirate of AUH, Owner of Ghanayem Legal & Management Consultancy EST, Treasurer & Account Officer in Charge of Citibanks Financial Institutions in Dakar, Vice President Citibank Private Bank, Geneva, Managing Director Sahara Financial Management Services, Regional Director of Ecobank for Middle East, North Africa & India, Vice Chairman at Signature Africa Ventures. H.E. Strategy and management - setting the Bank's long-term objectives and commercial strategy, and monitoring management's performance; Structure and capital - approving changes relating to capital structure, corporate structure and management and control structures; Financial reporting, planning and controls - approving interim and final results, annual report and accounts, dividends, business plans, budgets (including funding plans) and forecasts, significant changes in accounting policies or practices, remuneration of and appointment or removal of auditors and other material accounting policies; Internal controls - setting and monitoring internal controls; Risk - setting the Bank's risk strategies and appetite and monitoring the Bank's approach to material risks; Major transactions - approving major capital investments and projects, by reason of materiality or size, including acquisitions, mergers, disposals, and material contracts not in the ordinary course of business; Board and other appointments - appointment or removal of the GCEO, the Board Secretary and other senior management, succession planning, terms of reference and membership of Board Committees, annual performance review of directors and Board Committees; GCEO - annual evaluation and supervision of the GCEO; Remuneration - determining policy for remuneration of directors and senior executives, creation and approval of share incentive plans and other remuneration schemes; and. Carlos Obeid joined the ADCB Board of Directors in 2019. In the context of strengthening cooperation between AAAID and Abu Dhabi Chamber of Commerce and Industry, a memorandum of understanding was signed that aimed Dr Sultan Al Jaber | Masdar Chairman and COP 28 President - Masdar.ae Established in 2007, the EIA has actively sought unique investment opportunities locally, regionally and internationally, focusing on investing in asset classes that will help strengthen and diversify the UAE economy. The Dubai 10X initiative, in particular, aims to strengthen the emirates bid to become the city of the future. 10 The terms and conditions of hard-term and those of regular-term loans in 2013. At EIA, we value our staff as one of our most . Carlos Obeid is the Group Chief Financial Officer of Mubadala Investment Company PJSC and is responsible for managing the organisations Business Finance including Treasury and Investor Relations, Financial Planning and Business Performance, and Financial Governance and Reporting. Home | Abu Dhabi Investment Group In addition, Mr. Quarta is chairman of WPP plc and Smith & Nephew plc. Abu Dhabi Investment Authority | International Forum of Sovereign Al Gergawi also holds the position of Deputy Chairman of the UAEs Ministerial Development Council, as well as Emirates Investment Authority, the UAE Federal Governments sovereign wealth fund. H.E. Learn more. H.H. H.H. H.E Hareb Al Darmaki is Co-Founder and Board Chairperson of Gulf Capital. 17 May, 2021. Phone Number (971) 241-5000. He is former chairman of IMI plc and a former non-executive director of SPIE, BAE Systems plc, Foster Wheeler Corporation, Fondo Strategico Italiano, Equant NV, and PowerGen plc. The current board dates back to the April 2010 reshuffle (Emiri decree n4/2010) and it was fully renewed April 2013. ADIA does not seek to manage or take an operational role in the companies in which it invests. Board of directors. Degree in Economics & Finance (Tufts University, USA). To develop a constructive relationship with the GCEO and to manage his performance. Ms. Ghobash holds a Bachelor of Science in Economics from The Wharton School, University of Pennsylvania in the United States of America. Chairman of the Board of Directors of Al-Ghaith Trading and Contracting Co. LLC. It manages the Emirate's excess oil reserves and is estimated to manage $790 billion. Abu Dhabi Investment Authority's new research centre makes its debut Board of Directors | Abu Dhabi Investment Group Leadership Board Of Directors Sheikh Dr.Majid bin Saeed Al Nuaimi Chairman As nephew and son in law of Ajman ruler he played a major role in the development of UAE from a desert to an oasis. As a custodian of the Federal assets of the United Arab Emirates, the EIA is mandated to strategically invest funds allocated by the Federal Government to create long-term value for the UAE and contribute to the future prosperity of the country. 1996)", Sovereign Wealth Fund Institute Abu Dhabi Investment Authority, https://en.wikipedia.org/w/index.php?title=Abu_Dhabi_Investment_Authority&oldid=1141187949, Mohammed Habroush Al Suwaidi, Head of the Department of Finance (Abu Dhabi), Hamad Mohammed Al Hurr Al Suwaidi, Head of the Department of Finance (Abu Dhabi), Ghanim Faris Ghanim Ateish Al Mazrui, former financial advisor to Sheikh, This page was last edited on 23 February 2023, at 20:27. He was previously elected by ADCB shareholders to join the ADCB Board of Directors in March 2009 and was re-elected by the ADCB shareholders to join the ADCB Board of Directors in 2022. Sheikh Mansour Bin Zayed Al Nahyan heads the Board of Directors which is responsible for overseeing the affairs of the Emirates Investment Authority. He serves on the board of Emirates Global Aluminum-the fifth largest aluminum company in the world. Home - EIA H.E. ABU DHABI INVESTMENTS GROUP OUR WORK TODAY SHAPES ABU DHABI'S TOMORROWS. Sheikh Mohammed bin Rashid Al Maktoum. An external auditor is appointed annually by shareholders on the recommendation of the Board of Directors. The Group Chief Internal Auditor functionally reports to the Audit Committee and to the Group Chief Executive Officer on administrative and day-to-day matters. The firm carries out its investment program independently and without reference from the Government of Abu Dhabi. Sheikh Khalifa appoints new board of directors for Adnoc - The National Before joining Mubadala, Carlos Obeid worked with the UAE Offset Program Bureau, where he led a wide range of initiatives including privatisation, utilities and financial services. 2023 PitchBook. Where necessary, the Committee will also consider whether the candidate meets the Bank's criteria for independence. Minister of Federal Supreme Council Affairs, Executive Council Member Government of Ajman, Knowledge and Human Development Authority Government of Ajman, Board Member of the Commercial Bank International (CBI), Bin Aweidha Corporation Holding Managing Director, Market Makers Financial Advisory Managing Director, Founder and CEO of Liberal Lawyers and Legal Consultants, Member of the Board of Directors of World Investments P.S.C, Partner in Market Experts Financial Brokerage Company (LLC), Partner and Director of Gate Business Investment (LLC), Founder and Director of Al Madina Co.(Stock and Bond Broker) LLC, Member of the Board of Directors of Experience Gate Company for Management Consulting (LLC), Founder and Chairman of the Abu Dhabi Tahseel Company (LLC), Member of the Association of Emirates Safer Internet Society, Board Member of Agricultural Trading & Development Co. Ltd, Director General Airport Free Zone Authority, Board Member of UAE Football Association, Elected Member of Federal National Council (U.A.E Parliament), Member Of Arab Parliament (Cairo & Damascus), Board Member of UAE Insurance Authority, Vice Chairman of the Board of Directors of Al-Ghaith Holding Company (private shareholding), Member of the Board of Directors of Al Ain National Insurance Company, Member of the Board of Directors of the National Marine Dredging Company, Member of the National Consultative Council of Abu Dhabi, Member of the Abu Dhabi Tawteen Board of Directors, Honorary member of the Al Ain Sports and Cultural Club, Chairman of the Board of Directors of Prestige Jet Private Aviation Company, Chairman of Makasib Islamic Financial Services Board.