Sheikh Mohammed bin Rashid, Vice President of the UAE and Ruler of Dubai has appointed two men to run the new fund distributing $20bn (Dh73.46bn) in emergency funds to government-related companies.

Sheikh Mohammed issued a royal decree naming Abdul Rahman al Saleh, the director general of Dubai’s Department of Finance, as the chairman of the Dubai Financial Support Fund, which was established last month.

To head the fund’s day-to-day operations, he named Marwan Iqbal Abedin, who until recently was director of marketing and originations at the Emirates National Securitisation Corporation, or ENSEC, a government-controlled investment bank that sells mortgage-backed securities and other complex debt obligations.

The National