What's behind Qatar’s Cabinet shuffle?
With a recent Cabinet shuffle, Qatari Emir Tamim bin Hamad Al Thani appears to be positioning his country for long-term economic success by taking advantage of short-term realities.
The emir of Qatar, Sheikh Tamim bin Hamad Al Thani, ordered a Cabinet shuffle on Nov. 4 that put experienced executives and younger royals in top positions. Tamim appointed Qatar National Bank CEO Ali Ahmed al-Kuwari to a new portfolio that combines the Commerce and Industry Ministries under a single new ministry. Qatar Petroleum CEO Saad al-Kaabi was appointed minister of state for energy affairs, and new ministers will lead the Justice, Administrative Development, Labor and Social Affairs, and Municipality and Environment Ministries.
Tamim also issued decrees restructuring Qatar Petroleum and the Qatar Investment Authority (QIA), the country’s sovereign wealth fund, which has assets worth roughly $320 billion. The emir named Foreign Minister Mohammed bin Abdulrahman Al Thani to serve as QIA chairman and Mohammed bin Hamad Al Thani as chairman of the Qatar Financial Markets Authority.
