Board of Directors announces the appointment of Mr. Ahmad Bin Hamad Al-Nuaimi, as a new General Manager of the Corporation

06/04/2005 – The Board of Directors of Arab Petroleum Investments Corporation (APICORP) – an affiliate of the Organisation of Arab Petroleum Exporting Countries (OAPEC) – is pleased to announce the appointment of Mr. Ahmad Bin Hamad Al-Nuaimi, as a new General Manager of the Corporation, as from 6th April 2005, to succeed Mr. Rasheed Mohamed Al-Maraj, who has been appointed as the Governor of the Bahrain Monetary Agency.

Mr. Al-Nuaimi is no stranger to APICORP, he represented the State of Qatar in APICORP’s Board of Directors for the period from 1992 to 2004. In addition, Mr. Al-Nuaimi has assumed a number of senior positions at the Ministry of Finance in the State of Qatar, the most recent among them was an Economic Advisor to the Higher Council for Economic Affairs and Investments in the State of Qatar.

The Board of Directors’ resolution to appoint Mr. Al-Nuaim as General Manager of APIORP was taken in its 1st meeting for 2005 which took place on 6th April in Cairo, Arab Republic of Egypt.