DUBAI, (AFP) — Dubai’s ruler has appointed a new governor for the Dubai International Financial Centre free zone, the official WAM news agency reported on Monday.

“Sheikh Mohammed bin Rashid al-Maktoum, in his capacity as ruler of Dubai, has issued a decision appointing Abdullah Mohammed Saleh as the new governor of the Dubai International Financial Centre,” WAM said.

“Saleh will replace Ahmed Humaid al-Tayer as the governor of the DIFC with immediate effect,” it said, without giving an explanation for the move.

Tayer was appointed DIFC governor in November 2009. The free zone was launched in September 2004.

Sheikh Mohammed also replaced Tayer as chairman of the Emirates NBD bank’s board of directors in June, appointing Sheikh Ahmed bin Saeed al-Maktoum to the post.

Dubai, a glitzy Gulf business hub, was hard hit by the international financial crisis, and is still recovering.