UAEs President Sheikh Khalifa bin Zayed Al Nahyan issued a federal decree for 2020 appointing Abdulhamid Saeed as Governor of the Central Bank. Saeed is replacing Mubarak Rashid al-Mansouri who has been at the helm of the institution since 2014. He has more than 35 years of experience in the banking and financial services. Saeed held key positions as a board member of the First Abu Dhabi Bank, the Abu Dhabi Developmental Holding Company, the Emirates Investment Authority, the Abu Dhabi Securities Exchange and Sky News Arabia. He holds a Bachelor’s degree in Business Administration from the University of Arizona, US. Earlier, he also served as a member of the Mubadala Investment Company’s Board Executive Committee and Audit, Risk and Compliance Committee. The UAE’s monetary policy is closely linked to that of the US Federal Reserve due to a long-standing dirham currency peg to the dollar.