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FINANCIAL NEWS
Qatar- Emir Sheikh Hamad voluntarily steps down, gives power to son Sheikh Tamim
25 Jun 2013
(MENAFN) According to Reuters, the Emir of Qatar Sheikh Hamad bin Khalifa al-Thani announced today during a seven-minute speech aired on state television that his son Crown Prince Sheikh Tamim bin Hamad al-Thani will be the new Emir of Qatar.
In the speech, the 61-year old Sheikh Hamad said: “The time has come to open a new page in the journey of our nation that would have a new generation carry the responsibilities … with their innovative ideas.” The smooth succession of voluntarily ceding control is rare in the Arab Gulf, Sheikh Hamad overthrew his father in a relatively peaceful coup in 1995.
Although the aired speech did not specify when the power transition would occur, a senior Qatari official said that it took effect from the moment of the announcement. Prime Minister Sheik Hamad bin Jasim al-Khalifa, the advocate of Qatar’s strong foreign policy, was not mentioned in the speech at all.
Mohammed al-Misfer, a Qatari political analyst said that he does not foresee any major changes in foreign or domestic policy after the shift in power. Sheikh Tamim had already been assisting his father in ruling the small Gulf nation.
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