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Board appointed for Abu Dhabi’s new financial free zone

The government of Abu Dhabi has named a chairman and the board for a new financial free zone it hopes will attract top global banks and financial firms when it launches in the fourth quarter, Reuters has reported. Ahmed Ali al-Sayegh, chairman of green energy firm Masdar, chief executive of state-owned Dolphin Energy and the deputy chairman of Abu Dhabi Media, was named chairman of the Global Marketplace Abu Dhabi (GMAD). The board includes Mohammed Darwish Mohamed al Khouri, a board member of Abu Dhabi Commercial Bank and executive director of internal equities at Abu Dhabi Investment Authority (ADIA), one of the world's largest sovereign wealth funds.