(Sukuk.net - Khaleej Times) His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, appointed on Monday two new board directors of financial regulator Dubai Financial Services Authority (DFSA).

The new appointees to the 12-member DFSA board are Fadel Abdullah Al Ali and Abdul Wahid Al Ulama.

On December 1, Shaikh Mohammed appointed Paul Koster as DFSA chief executive.

"I am particularly delighted to welcome our new members. Both are leading figures in their fields and will provide valuable regional input and insight to the DFSA," its chairman Abdullah Saleh commented in a press statement.

Newly-minted DFSA board member Fadel Abdullah has extensive experience in the financial industry, having worked at Citibank and the Dubai Mercantile Exchange prior to being named executive chairman of Dubai Holding.

He is also a member of several Dubai Holdings entities, including the Jumeirah Group.

Abdul Wahid sits as a member of the board of directors for Dubai World, vice-chairman of Leisure Corp LLC and vice-chairman of Dubai Natural Resources World.

A member of the Dubai International Financial Centre's Islamic Finance Advisory Council, Abdul Wahid, a Chevening scholar, obtained his LLM Masters from the University of London, specialising in international trade and maritime law.

The DFSA's regulatory mandate covers asset management, banking and credit services, securities, collective investment funds, custody and trust services, commodities futures trading, Islamic finance, insurance, an international equities exchange and an international commodities derivatives exchange.
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