PROFILE-United Arab Emirates’ Central Bank Governor Suweidi

Position: Central Bank Governor

Incumbent: Sultan Nasser al-Suweidi

Term: Has been in power for five terms. He was reappointed
in 2001 for a new term until 2012. Tenure determined by
appointment.

Key Facts:

— Suweidi previously worked for the Abu Dhabi Investment
Company, the Gulf International Bank in Bahrain, and at the Abu
Dhabi Commercial Bank.

— In 2007 as central bank governor, Suweidi called for the
review of a fixed exchange rate, stirring market speculation
about ending the Gulf currency peg to the dollar and leading to
the dirham hitting a 17-year high. Since then, he has said the
current policy is the best one as the GCC works toward a
monetary union.

— In 2010, he said that pegging the UAE’s currency to the
U.S. dollar was still the best choice.

— Suweidi also said the UAE’s position on rejoining a
planned Gulf monetary union was unchanged, indicating the
world’s third-largest crude exporter may come back to the
project only after the single currency is launched.

— The second-largest Arab economy withdrew from the project
last year in protest at a decision to locate the joint monetary
council in rival Saudi Arabia. UAE policymakers have been saying
that rejoining was not on the table unless it is profitable.

PROFILE-United Arab Emirates’ Central Bank Governor Suweidi