The appointment of HE Ahmed Humaid Al Tayer came in a decree issued by Vice President and Prime Minister of UAE and Ruler of Dubai, HH Sheikh Mohammed bin Rashid Al Maktoum, in his capacity as a Ruler of Dubai.

The decision by Sheikh Mohammed bin Rashid al-Maktoum to appoint Al Tayer to the Governorship of Dubai International Financial Centre "comes within the framework of enhancing the government institutions in Dubai," said Mohamed Shaibani, Director of Sheik Mohammed's court, in the statement.

The appointment follows changes elsewhere in the Government of Dubai. On the preceding day, Thursday 19 November 2009, Sultan Bin Sulayem, Mohammed Al Gergawi and Mohamed Alabbar left the board of the Investment Corporation of Dubai (ICD), the investment arm of The Government of Dubai. The ICD reshuffle sees Sheikh Mohammed bin Rashid al-Maktoum as Chairman and his son Sheikh Hamdan bin Mohammed, the Crown Prince of Dubai, as Vice-Chairman.

A former Minister of Communications for Dubai, Al Tayer was also Minister of State for Financial Affairs in two Cabinets. He holds a number of current high-profile positions including Chairman of Emirates NBD, Chairman of Commercial Bank of Dubai, Vice Chairman of Dubai Aluminium Company, Chairman of the Board of Trustees of Emirates Nationals Development Programme and Chairman of Emirates Institute for Banking & Financial Studies. Al Tayer was named "Arab Banking Personality" for 2006 by the Union of Arab Banks. Born in October 1950, he holds a bachelor’s degree from the College of Economics and Political Sciences, University of Cairo.

Speaking to Banker Middle East on the occasion of the launch of Emirates NBD’s new corporate identity, Ahmed Humaid Al Tayer said, “His Highness issued the decree last night. I have spent a lot of time on the phone and receiving SMS messages. His Highness’ vision when he established this project was as an international financial centre for the UAE and to serve the region and to cooperate with others.

“There is a need is this region and, insha’Allah, with my colleagues and with the President of DIFC, Sheikh Maktoum Bin Mohammad Bin Rashid Al Maktoum, Deputy Ruler of Dubai, we will work to put this centre where His Highness would like to see it; to serve the region and the UAE economy, to provide the right environment for banks and the financial institutions.

“Our economy is a free market – there are no restrictions on financial transfers. We need to work closely with other centres around the world moving forward.”

Al Tayer refused to be drawn on whether his new role at DIFC would impinge on his position as Chairman of Emirates NBD, saying it was a matter ‘for the shareholders to decide’. Asked about any changes he would make he was also reticent, saying, “Let me look from inside and see, I will talk to you again…”