Published On: Tue, Nov 11th, 2014

Emirates Investment Authority to finance banknotes printing project

Emirates Investment Authority to finance banknotes printing project

Emirates Investment Authority to finance banknotes printing project

The Board of Directors of Emirates Investment Authority,EIA, yesterday discussed the financing of project for printing banknotes and options proposed to support this national project.

Chaired by H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, the EIA Board agreed to provide the proposed amount to set up and operate the Banknotes Printing House, and recommended that those involved in the project need to keep the Board informed on the latest developments regarding progress of the project, given its importance at the national and regional level.

During the meeting, Mubarak Rashed Al Mansoori, CEO of the EIA, reviewed the performance for 2014 and presented an analysis on the authority’s performance indicators since its inception through the end of September 2014. The indicators showed hike in financial returns.

Sheikh Mansour extended his thanks to the Board members and administration of the EIA for their success in achieving those returns, while noting that he remains confident in their recording even greater returns in the coming years.

The Board members also approved audited financial statements for 2013 and discussed the reports and the minutes of the Executive Committee and the Audit Committee from the previous period.

The meeting was attended by Mohammed bin Abdullah Al Gargawi, Minister for Cabinet Affairs, Sultan bin Saeed Al Mansouri, Minister of Economy, Obaid bin Humaid Al Tayer, Minister of State for Financial Affairs, Mubarak Rashed Al Mansoori, CEO of the EIA, Khadem Abdullah Al Qubaisi, Abdulhamid Saeed and Mohammed Saif Al Suwaidi.

Emirates Investment Authority (EIA) is the only Sovereign Wealth Fund of the Federal Government of the United Arab Emirates. Established in 2007, the EIA has actively sought unique investment opportunities locally, regionally and internationally, focusing on investing in asset classes that will help strengthen and diversify the UAE economy.

Source : WAM News Agency for United Arab Emirates

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