United Arab Emirates President Sheikh Khalifa bin Zayed has appointed Khalid al-Tameemi as governor of the UAE’s central bank, state news agency WAM said, citing a decree issued on Wednesday.
Tameemi, who was appointed central bank vice governor in February, will be replacing Abdulhamid Saeed.
Saeed, who was appointed governor a year ago, has decided to retire, WAM said.
WAM said Sheikh Mansour bin Zayed, deputy prime minister, praised Saeed’s efforts in “exceptional circumstances” during the COVID-19 pandemic, saying he had worked to ensure the monetary and financial system was not affected by the crisis.
The UAE’s monetary policy is closely linked to that of the US Federal Reserve due to a long-standing dirham currency peg to the dollar.
Tameemi has spent more than three decades serving in roles at government or government-linked entities, including as a board member of the central bank, General Pension and Social Security Authority and Emirates Integrate Telecommunications Company. He was also executive director of the Real Assets Department at Abu Dhabi Investment Council, WAM has said.