DIFX appoints Nassef Sawiris as Director

Dubai: July 14, 2008 - The Dubai International Financial Exchange (DIFX) today announced the appointment of Nassef Sawiris as a Board Director. Mr Sawiris is the Chief Executive of Orascom Construction Industries (OCI), the Egypt-based international construction contractor.  

Mr. Sawiris is a former Board Director of the Cairo and Alexandria Stock Exchange.
and has many years experience in various industrial sectors including cement, natural gas  and fertiliser.  

Soud Ba’alawy, Chairman of the DIFX and Executive Chairman of Dubai Group, said: “Mr Sawiris brings valuable skills and knowledge to the DIFX as it expands its role as the region’s international stock exchange. His regional and international expertise will provide excellent guidance to enable the DIFX to develop further as a world class platform.”

Biographical details of Mr. Sawiris:

Nassef Sawiris joined the Orascom group in 1992 and became Chief Executive of Orascom Construction Industries (OCI) in 1998 ahead of OCI’s initial public offering in 1999. He has led the company’s investment strategies and execution in various industrial sectors and in significant geographical expansion.

Mr. Sawiris is a Director of NNS Holding and its related entities, a privately owned investment group which has a major shareholding in Lafarge SA in France. He was appointed to the Board of Directors of Lafarge in January 2008. He was a Board Director of the Cairo and Alexandria Stock Exchange from 2004 to 2007.

About DIFX

The DIFX is the international financial exchange serving the region between Western Europe and East Asia. It welcomes regional as well as international issuers that seek regional and international investment. The exchange currently lists shares, structured products, Sukuk (Islamic bonds) and conventional bonds.

The majority shareholder of the DIFX is Borse Dubai with a two-thirds stake.  Nasdaq Group owns one third of the shares. The regulator of the DIFX is the Dubai Financial Services Authority (DFSA).  The DIFX is located in the Dubai International Financial Centre (DIFC).

www.difx.ae

For more information, please contact

Mark Fisher
Head of Corporate Communications,
DIFX
Tel: +971 4 3612220
Mob: +971 50 6245805
Email: Mark.fisher@difx.ae

Top