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President's Private Dept to be established

Abu Dhabi - The Minister of Presidential Affairs shall issue the department's organisation structure, as well as internal, financial and organisational regulations

 The President, His Highness Shaikh Khalifa bin Zayed Al Nahyan, has issued federal law decree no. 2 for 2016, on the President's Private Department.
According to the decree, the President's Private Department shall be established to replace the President's Business Department. It will report to the Ministry of Presidential Affairs.
The department is mandated to oversee and manage any rights, fixed and movable assets, funds and investments by the President, either inside the UAE or abroad. It may also establish or hold shares in all companies in the UAE or abroad, and transfer all aforementioned rights and assets to these companies.
The Minister of Presidential Affairs shall issue the department's organisation structure, as well as internal, financial and organisational regulations.
The President also issued a Federal Decree appointing Dr Ahmed Mubarak Ali Rashid Al Mazrouie as chairman of the President's Private Department, on the same scale as a minister.