Mohammed Al Shaibani, Executive Director and CEO of Investment Corporation of Dubai receives JP Morgan delegation

During the meeting at the ICD offices, H. E. Mohammed Al Shaibani discussed various areas of mutual cooperation, as well as the vast investment potential of the numerous portfolio companies under the ICD, with Mr. Bill Winters, Co-Chief Executive Officer of JP Morgan Investment Bank, and Member of Operating Committee.

Established in May 2006, ICD comprises all wholly or partly-owned government businesses in Dubai with aggregate market value in excess of Dhs300bn, and covering several sectors. ICD has been mandated to play a leading role in driving the future prosperity of Dubai's investment portfolio and generating a superior return on investment in a way that will benefit the entire UAE community.

Commenting on the visit by the JP Morgan delegation, H. E. Mohammed Al Shaibani, said: "With Dubai increasingly becoming an international financial hub, the support of world renowned financial services institutions like J P Morgan is crucial to our strategy to build close ties with leading investment and financial services companies from around the world. The Investment Corporation of Dubai is committed to extending its fullest cooperation to international companies that are keen to join us in our quest to identify excellent growth opportunities for the numerous companies under the ICD portfolio".

Mr. Bill Winters, Co-Chief Executive Officer of JP Morgan Investment Bank, said: "The ICD is a vital and key initiative by the Government of Dubai to streamline and coordinate its various investments. Given its powerful portfolio of companies, the ICD is poised to build on its success as an investment arm for the government going forward. We look forward to working closely with the ICD and Government of Dubai as part of a long-term relationship."