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Hamad Bin Jassim dismissed from Qatar Investment Authority

Emir decides to restructure QIA's administrative council, handing vice presidency to his half-brother Prince Abdullah Bin Hamad al-Thani.

Hamad Bin Jassim dismissed from Qatar Investment Authority
Last Update: 03 July 2013, 16:15

Qatar's former prime minister and strongman was on Tuesday replaced as deputy head of the powerful Qatar Investment Authority in a shakeup ruled by the country's new young emir, reported by MEO news.

Sheikh Hamad Bin Jassim al-Thani had already lost his post as foreign and prime minister when the new emir Sheikh Tamim bin Hamad al-Thani announced his cabinet on June 26.

The emir decided in a decree to restructure the QIA's administrative council, of which he is the head, handing the vice presidency to his half-brother Prince Abdullah Bin Hamad al-Thani.

The decree also named Finance Minister Ali Sherif al-Emadi and Economy and Trade Minister Ahmed Bin Jassim Bin Mohamed al-Thani to the new administrative council.

A separate decree appointed Ahmad Mohamad al-Sayed, managing director of Qatar Holdings, as executive chairman of the QIA.

The emir also declared the formation of a higher council for economic affairs and investment, which he will head himself, QNA quoted a separate decree on Tuesday as saying.

Several ministers and top officials, consisting of the prime minister and representatives of the QIA and Qatar Development Bank, will sit on the new council.

The QIA, the gas-rich gulf emirate's sovereign wealth fund, has invested billions of dollars in businesses ranging from Germany's Volkswagen to French energy giant Total, Britain's Sainsbury's supermarket chain and Barclays Bank.






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