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Sultan Al Suwaidi

How is the UAE’s Central Bank Governor connected to one of the most controversial people in the US government?

March 11, 2009 2:15 by

Sultan Al Suwaidi

According to recent reports, banks in the UAE are struggling to cope with a huge shortfall of AED110 billion between loans and deposits, forcing them to hold back loans.

The news prompted Sultan Al Suwaidi, UAE’s Central Bank Governor, to urge businesses in the country “to be cautious and adapt their plans for less income due to the slashed global economic growth outlook.”

Al Suwaidi’s job is not easy in the current market conditions, but he is not new to the market.

He began his career at the Finance and Administration department of the Abu Dhabi Investment Authority (ADIA) in 1978, and went on to represent the ADIA on the boards of various banks and financial institutions.

He later worked with the Abu Dhabi Investment Company, the Gulf International Bank in Bahrain and the Abu Dhabi Commercial Bank.

When Al Suwaidi’s four-year term as the Central Bank Governor expired in December 2007, rumors said that he would be replaced. However, it was later confirmed that he would be serving a fifth term by…

 
 

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