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© Reuters. Emir of Qatar appoints the BC governor as head of the sovereign wealth fund
Cairo, March 7 (.).- The Emir of Qatar, Tamim bin Hamad al Thani, on Tuesday appointed the governor of his country’s Central Bank, Bandar bin Muhamed Al Thani, as head of the Qatari Investment Authority, the fund sovereign of this small but rich Gulf State that manages wealth valued at more than 460,000 million dollars.
The decision was made by the emir within some changes that he introduced to the Government of his country, and which included the appointment of the Foreign Minister, Mohamed bin Abdelrahman, who also held the position of head of the sovereign wealth fund, as the new prime minister of the country.
“His Highness Tamim bin Hamad issued Order No. 21 of 2023 to restructure the board of directors of the Qatar Investment Authority, under the chairmanship of Sheikh Bandar bin Muhamed Al Thani,” a statement from the Qatari royal court said.
The new head of the Qatari Investment Authority (QIA) is an economist who held various positions related to his country’s economic and financial policy from 2015 until he was appointed governor of the Central Bank in December 2021.
Bandar, born in 1977 and a member of the ruling Al Thani family, has also been the head of the Board of Directors of the Qatar Stock Exchange since 2021, and was until now a member of the Board of Directors of the Qatari sovereign wealth fund.
The reason for the changes is unknown, although they come after a year considered successful in the rich Gulf country, given that it organized the first soccer World Cup in the Middle East in November, and announced that it had achieved a budget surplus of some 24,336 million dollars in 2022.
The QIA is considered one of the ten largest sovereign wealth funds in the world and manages assets with an estimated value of more than 460,000 million dollars.
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