Nasser al Shaikh, the chairman of Deyaar Development, has submitted his resignation to the company's board of directors, Deyaar said in a statement this morning.
The move comes just weeks after Mr al Shaikh was replaced as director general of the Dubai Department of Finance, where he was overseeing the distribution of funds to companies struggling to pay debts and finance operations in the wake of the global financial crisis.
Government officials gave no reason for his replacement at the time, nor did Deyaar executives yesterday after announcing his intention to resign. Deyaar said its board of directors would "convene shortly to consider ratification" of his resignation.
Mr al Shaikh is also listed as chairman of Amlak Finance and vice chairman of the National Bonds Corporation.
bhope@thenational.ae
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
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The biog
Profession: Senior sports presenter and producer
Marital status: Single
Favourite book: Al Nabi by Jibran Khalil Jibran
Favourite food: Italian and Lebanese food
Favourite football player: Cristiano Ronaldo
Languages: Arabic, French, English, Portuguese and some Spanish
Website: www.liliane-tannoury.com
TO A LAND UNKNOWN
Director: Mahdi Fleifel
Starring: Mahmoud Bakri, Aram Sabbah, Mohammad Alsurafa
Rating: 4.5/5
COMPANY PROFILE
Name: Rain Management
Year started: 2017
Based: Bahrain
Employees: 100-120
Amount raised: $2.5m from BitMex Ventures and Blockwater. Another $6m raised from MEVP, Coinbase, Vision Ventures, CMT, Jimco and DIFC Fintech Fund