His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE in his capacity as the Ruler of Dubai, issued Law No. (25) of 2023 to establish the Dubai Investment Fund as an independent public entity. To pursue its objectives, the Fund will operate commercially with financial and administrative autonomy.
The Fund aims to generate returns for current and future generations, following the investment policy approved by its Board.
The Fund’s objectives include:
- Strengthening Dubai’s financial stability by financing the government’s deficit.
- Establishing reserves.
- Supporting long-term financial sustainability.
It aims to contribute to strategic priorities and public policies through efficient investments in vital sectors for sustainable development and diversified income sources.
The Dubai Investment Fund will function independently alongside the Investment Corporation of Dubai and undertake various responsibilities, such as investing surpluses, establishing or collaborating on companies and investment funds, acquiring or merging entities, and holding stakes.
It will focus on diversified investments in stocks, bonds, securities, movable and immovable assets, financial derivatives, mortgages, guarantees, and managing funds in compliance with Dubai’s laws and approved policies.
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, as Chairman of The Executive Council of Dubai, issued Resolution No. (94) of 2023 to form the Fund’s Board of Directors, chaired by Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum. Abdulrahman Saleh Al Saleh serves as Vice Chairman, while Abdulaziz Mohammed Al Mulla, Rashid Ali bin Obood, and Ahmad Ali Meftah are members.
Abdulaziz Mohammed Al Mulla has been appointed the managing director and CEO of the Fund, responsible for investing Dubai government funds locally and internationally.
Effective immediately, the Dubai Investment Fund will represent the Dubai Government in owning shares in various entities and relieve the government of related rights and obligations. All pertinent government entities must register their assets under the Fund. Additionally, Dubai World will be affiliated with the Fund while maintaining its legal identity as per Law No. (3) of 2006.
