Wednesday, 22 May 2019

Investment corporation of dubai

Investment corporation of dubai

The Investment Corporation of Dubai (ICD) is a state-owned holding company that can be characterized as a sovereign wealth fund owned by the government of DubaiUnited Arab Emirates. Established in May 2006 with the transfer of the government’s portfolio of investments from The Department of Finance’s Investment Division, its role is to supervise the government’s investment portfolio while adding value.

The Investment Corporation of Dubai reported earnings results for the year ended December 31, 2017. For the year, the annual revenues had gone up 13.8% to AED 200.9 billion. Over the same period, its annual net profit rose by 11.6% to AED 24.6 billion. Revenue growth was due to higher contributions from the oil and gas and transport services sectors, in addition to the effect of new acquisitions. It attributed the rise in net profits to improved performance in transport services and strong earnings contributions from banking and financial services. Profit attributable to the equity holder of ICD increased 12.4% to AED 20.2 billion.

Investment Corporation of Dubai

TypeSovereign wealth fund
HeadquartersDubaiUnited Arab Emirates
Key peopleSheikh Mohammed bin Rashid Al Maktoum (Chairman)
Sheikh Hamdan bin Mohammed Al Maktoum (Vice Chairman)
Mohammed Ibrahim Al Shaibani(CEO)

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