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UAE appoints Mubarak al-Mansouri as new central bank governor

Mansouri, the chief executive of Emirates Investment Authority, a federal investment fund, replaces Sultan Nasser al-Suweidi

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The United Arab Emirates’ president appointed Mubarak Rashid al-Mansouri as the new central bank governor for a four-year term, the WAM state news agency said on Monday, citing a presidential decree.

Mansouri, the chief executive of Emirates Investment Authority, a federal investment fund, replaces Sultan Nasser al-Suweidi, who has been at the helm of the institution since 1991.

The UAE's monetary policy is closely linked to that of the U.S. Federal Reserve due to a long-standing dirham currency peg to the dollar.