ABU DHABI, 11th January, 2023 (WAM) — In the presence of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, has bestowed the ceremonial Mohammed bin Rashid's Scarf upon H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Presidential Court, in recognition of his track record of achievements and efforts in service of the UAE.
H.H. Sheikh Mohammed bin Rashid affirmed that Sheikh Mansour is spearheading a number of vital files which are fundamental to the UAE's national affairs and strategies that aim to serve the interests of the country and its people.
“In the presence of my brother, the President of the State — may God protect him — we honour today my brother Sheikh Mansour bin Zayed for his exceptional efforts in serving the United Arab Emirates,” Sheikh Mohammed said.
"Sheikh Mansour is responsible for the Central Bank, which regulates the region's largest banking sector and monitors the government's policies through the Ministerial Development Council, while managing the Emirates Investment Authority that boasts assets worth more than AED300 billion. He efficiently monitors all files assigned to him by the UAE leadership. Mansour is a statesman and a top-notch economist."
Sheikh Mohammed added, “While taking over the Emiratisation file, Sheikh Mansour has managed to employ 28,000 individuals in just one year and increased their representation in the private sector by 70% within months… Mansour is one of Zayed the Great's extensions and one of the great pillars of the nation.”
Granting Sheikh Mansour bin Zayed Al Nahyan the scarf of H.H. Sheikh Mohammed bin Rashid comes in recognition of His Highness' contributions and achievements in a number of developmental files and sectors in the UAE. He has been responsible for key executive and development files and new policies in the federal government since 2009 through his position as Deputy Prime Minister and Chairman of the Ministerial Development Council.
Sheikh Mansour is also responsible for the Central Bank of the UAE and all of its development and regulatory plans in the country's banking industry, which is the largest in the Middle East with cash assets in excess of AED3.5 trillion.
Sheikh Mansour has also contributed to the founding and management of the Emirates Investment Authority (EIA), which oversees the management and investment of all federal government assets and ranks seventh among Arab sovereign funds, with AED322 billion worth of assets under its control.
Sheikh Mansour also oversees several national sovereign files as Minister of the Presidential Court, particularly those linked to serving citizens and monitoring the implementation of all presidential initiatives in the country.
Mansour bin Zayed: Decades of Serving the Nation
Sheikh Mansoiur accompanied late Sheikh Zayed bin Sultan Al Nahyan and benefited from his inexhaustible well of knowledge and learnt at his unique school of leadership and management from an early age, through his chairmanship of the Court of the Founder, Sheikh Zayed, from 1997 till his death in November 2004.
Through his position as the Minister of Presidential Affairs since 2004, "The Presidential Court today," Sheikh Mansour also worked with the late Sheikh Khalifa bin Zayed Al Nahyan, until his death in 2022. During that time, the ministry was an example of efficiency and competence in delivering the best levels of support and service to the president.
Since 2009, Sheikh Mansour has been serving as Deputy Prime Minister. Sheikh Mansour is also chairing the boards of a number of key federal authorities and establishments: the Chairman of the Emirates Investment Authority since 2007; and the Chairman of the Central Bank of the United Arab Emirates in 2020.
Sheikh Mansour chairs the Ministerial Development Council, one of the most important committees that supports and assists the UAE Cabinet. The Council met a number of times in 2022 to deliberate on various projects during which it approved more than 313 resolutions and projects in various governmental sectors. It is considered one of the main committees supporting the UAE Cabinet in keeping pace with the recent ministerial changes, which goes in line with the future government priorities aiming to achieve development leaps in vital sectors and promote the UAE’s status locally and globally.
Sheikh Mansour is also the Chairman of Abu Dhabi Agriculture and Food Safety Authority (ADAFSA), which is the local authority in charge of agriculture, food safety, food security and biosecurity in the Emirate of Abu Dhabi. It aims to develop a sustainable agriculture and food sector and protect the health of animals and plants to enhance the biosecurity and achieve food security. In addition, the authority is responsible for preparing plans, programs and activities in the field of agriculture, food safety and food security.
His Highness oversees the Scholarship Coordination Office (SCO). It was created in 1999 under the direct supervision of His Highness Sheikh Mansour Bin Zayed Al-Nahyan. Each year, outstanding Emirati students are selected to travel abroad in pursuit of their education at prestigious international universities. The Distinguished Students Scholarships (DSS) and the Study Abroad Scholarships Program (SASP) are granted annually by the Government of the United Arab Emirates. The DSS contributes to the continued advancement of the UAE in the 21st century by supporting the education of the country’s future leaders. The scholarship provides the UAE’s best students with support to attend prestigious international universities. Upon completion of their academic training, graduates return to the UAE to occupy leading positions in the country’s public sector.
His Highness also chairs the Board of Trustees of the Khalifa Award For Education. It was created to enrich the development of the educational field and provide for an effective interaction between local, Arab and international contributors to the field. The Award’s aim is to usher in a new dynamism in the educational process, in tune with contemporary advancements in scientific knowledge and information technology.
His Highness is also the Chairman of the Al Jazira Sports Club in Abu Dhabi; the Chairman of the Board of Directors of the Emirates Racing Authority; the Chairman of the Board of Directors of the Emirates Arabian Horse Society; and the Chairman of the Board of Directors of the Abu Dhabi Equestrian Club.
Sheikh Mansour is particularly interested in Emirati tradition and is eager to embed it in the minds of children and teenagers in order to promote national identity and a sense of belonging, notably through horse racing. Within this regard, Sheikh Mansour supports camel races and attends their competitions, seeing camel racing as one of the key tools of reviving the authentic heritage of the UAE and preserving the ancient traditions of the people of the Emirates.
Emirates Investment Authority
Emirates Investment Authority (EIA), led by His Highness Sheikh Mansour bin Zayed Al Nahyan, has made significant successes that contributed to augmenting its investments in the UAE and overseas. As a custodian of the Federal assets of the United Arab Emirates, the EIA is mandated to strategically invest funds allocated by the Federal Government to create long-term value for the UAE and contribute to the future prosperity of the country. In a short span of time, the EIA has uniquely positioned itself to become an invaluable partner for significant world-class investment opportunities locally, regionally and internationally.
Forbes Middle East affirmed in 2022 that the Emirates Investment Authority ranks seventh among the largest Arab sovereign wealth funds, with assets under management of approximately AED322 billion. Using prudent investment strategies in accordance with global best practice, the EIA takes pride in its highly diversified investment portfolio, spread across a variety of investments and instruments which are carefully and thoroughly managed to ensure superior, risk-adjusted returns to deliver long-term financial value to the UAE.
EIA’s capital is strategically deployed and monitored to ensure that the risks involved in each of the underlying assets are within limits and the investment activities generate the desired financial goals.
Enhancing Financial Sector's Competitiveness
While steering the helm of the CBUAE, Sheikh Mansour has been able to achieve a wide range of strategic goals, including supporting the competitiveness, diversification, and growth of the financial sector in line with future economic trends, establishing a strong financial infrastructure, and promoting the future of FinTech and the UAE's digital transformation. Thanks to His Highness's wise vision, the UAE apex bank was able to significantly contribute to the country's monetary and financial stability by developing the regulatory and supervisory framework for licensed financial institutions and increasing confidence in financial services in the country.
Emiratisation: Top Priority
Emiratisation is one of the critical issues that the UAE leadership prioritises. Based on this importance, Sheikh Mansour seeks to achieve a set of strategic goals of central importance through the Emirati Cadres Competitiveness Council “Nafis”. NAFIS is a federal program to increase the competitiveness of Emirati human resources and empower them to occupy jobs in the private sector. Launched as part of 'Projects of the 50', the program aims to accelerate the UAE’s development journey and boost the economy Since its inception, the programme has contributed to the enrollment of over 50,000 citizens in the private sector, a 70% increase. Since the programme's inception, over 28,700 individuals have entered the private sector.
Foreign Relations
In addition to the vital files for which His Highness Sheikh Mansour bin Zayed Al Nahyan is responsible at the domestic level, His Highness has efficiently contributed to strengthening the UAE's international relations and serving its goals and interests on the regional and global levels, through his foreign visits and meetings with senior officials around the world as mandated by the UAE President, specially with regards to economic and developmental issues.