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New DIFC Chairman appointed

Dubai Ruler Sheikh Mohammed bin Rashid Al-Maktoum has issued a decree appointing his son as chairman of the Dubai International Financial Centre (DIFC), Reuters has reported. Sheikh Maktoum bin Mohammed bin Rashid Al-Maktoum, 27, will chair the Supreme Council of the emirate's offshore financial district, which since 2004 has been a financial free zone for 800 firms, including 18 of the top 25 global banks, global asset managers, insurers and law firms. Sheikh Mohammed also appointed a new board for the DIFC, which includes chief executive of Mashreq Abdul Aziz Al Ghurair as deputy chairman.