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Saad Abdul Razak to be MD at ICD

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DUBAI — Under the directive of His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, who is also Chairman of Investment Corporation of Dubai (ICD), Mohammed Al Shaibani, Executive Director and CEO of ICD, announced yesterday the appointment of prominent banker Saad Abdul Razak to the Executive Management Team of ICD.

Published: Sun 21 Oct 2007, 9:07 AM

Updated: Sat 4 Apr 2015, 11:29 PM

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  • A Staff Reporter

Saad Abdul Razak will be managing director responsible for strategy, privatisation, diversification, and special projects for key companies that are part of the ICD portfolio.

Established in May 2006, ICD comprises all wholly or partly-owned government businesses in Dubai covering numerous sectors. ICD has been mandated to play a leading role in driving the future growth of Dubai's investment portfolio and generating a superior return on investment in a way that will benefit the entire UAE community.

Mohammed Al Shaibani said, "Saad Abdul Razak brings to the ICD a wealth of business turnaround knowledge and new business building experience, particularly in financial services industry, real estate sectors and others. His appointment also reflects ICD's commitment to giving talented UAE nationals the opportunity to play a major role in driving the economic growth of Dubai. He will work closely with me to assist our portfolio companies with aggregate market value in excess of Dh300 billion, to generate greater value for its shareholders."



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