The Investment Corporation of Dubai, which is the investment arm of the Dubai government, has become a full member of the International Forum of Sovereign Wealth Funds (IFSWF), which is a global network of sovereign wealth funds that has members from 44 countries.
According to a statement by the forum on Thursday, by joining the IFSWF, ICD has voluntarily committed to following the Santiago Principles, which are a set of principles and practices that promote transparency and responsible investment practices.
Among the assets owned by ICD are Emirates airline, stakes in Dubai-based banks Emirates NBD and Dubai Islamic Bank, as well as property companies Emaar Properties and Emirates National Oil Company.
Mohammed Ibrahim Al Shaibani, Managing Director at the Dubai firm said the ICD was delighted to become a full member of IFSWF. “Our membership demonstrates ICD’s commitment to uphold leading standards for governance and is aligned with our core values of Excellence, Commitment, Sustainability, Integrity and Respect. We look forward to collaborating with IFSWF and its esteemed members.”
