The leader of the United Arab Emirates named his eldest son as crown prince of Abu Dhabi and his likely successor as president of the second biggest Arab economy.
Sheikh Mohamed bin Zayed Al Nahyan , president of the UAE and ruler of Abu Dhabi, named Sheikh Khaled bin Mohamed as crown prince of the emirate, state-run WAM news agency reported. The move comes 10 months after MBZ became president of the Persian Gulf nation after the death of his brother Sheikh Khalifa. Oil-rich UAE is a member of the OPEC oil cartel and controls some of the world’s biggest sovereign wealth funds.
Two brothers of the president, Sheikh Tahnoun bin Zayed and Sheikh Hazza bin Zayed, were named deputy rulers of Abu Dhabi on Wednesday. Sheikh Tahnoun is the UAE’s national security adviser and chairman of the Abu Dhabi Investment Authority, which has assets worth $790 billion, according to the Sovereign Wealth Fund Institute.
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