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Discuss this article (1 Comments)Former Dubai finance chief resigns from DIB
by This email address is being protected from spam bots, you need Javascript enabled to view it on Monday, 22 June 2009
STEPPING DOWN: Nasser al-Shaikh has resigned from the board of Dubai Islamic Bank.
Nasser al-Shaikh, the former finance director of Dubai, has resigned from the board of directors of Dubai Islamic Bank, a spokesman said on Monday, one day after Shaikh resigned as chairman of Deyaar Properties.
In the wake of the news, Dubai Islamic shares reversed gains to trade down 1.15 percent at 12.52pm UAE time as the general Dubai index was slightly negative.
Shaikh was replaced in May as head of Dubai's Department of Finance after spearheading the launch of the emirate's $20 billion bond programme in February, a move aimed at easing worries that state-linked companies could default on debts.
Related: Deyaar Properties chairman resigns
Shaikh remains chairman of Islamic mortgage lender Amlak and is an assistant to the director of the ruler's court for foreign affairs. (Reuters)
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What is going on??
Posted by Joe, Dubai on Monday 22 June 2009 at 13:17 UAE time
Does anyone know what is going on with this guy? I saw his interview with CNBC while he was in Jordan and I was impressed. Next thing you know he is demoted while on the flight back to Dubai. Now he is gone from Deyaar and Dubai Islamic Bank. I guess tomorrow Amlak will announce Mr. Shaikh is no longer with them?
Posted by Joe, Dubai on Monday 22 June 2009 at 13:17 UAE time
Does anyone know what is going on with this guy? I saw his interview with CNBC while he was in Jordan and I was impressed. Next thing you know he is demoted while on the flight back to Dubai. Now he is gone from Deyaar and Dubai Islamic Bank. I guess tomorrow Amlak will announce Mr. Shaikh is no longer with them?
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