UAE - Mubasher: Sheikh Khalifa bin Zayed Al Nahyan, UAE President and Ruler of Abu Dhabi, has issued a decree to establish the Supreme Council for Financial and Economic Affairs, under his chairmanship, according to Abu Dhabi media office.
Under the decree, Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, is the Vice-Chairman at the Council.
The Supreme Council will focus on financial, investment, economic, petroleum, and natural resources affairs in Abu Dhabi to improve the competitiveness and sustainability of the emirate's financial and economic systems.
The Council will mainly work with the Department of Finance, Abu Dhabi Investment Authority (ADIA), Mubadala Investment Company, Abu Dhabi National Oil Company (ADNOC), and ADQ.
The decree also stipulates that the Supreme Petroleum Council’s regulatory powers will be merged with the new Council.
