The Emirates Investment Authority (EIA) was established by Emiri decree on 13 November 2007. The EIA is the first federal sovereign wealth fund for all seven states comprising the United Arab Emirates (Abu Dhabi, Ajman, Dubai, Fujairah, Ras al-Khaimah, Sharjah and Umm al-Quwain). The EIA is the sole entity responsible for the future stewardship of federal government stakes in over 30 corporations across the GCC, including Etisalat, Du, Gulf International Bank, United Arab Shipping Company and Gulf Investment Corporation. The objective of the EIA is to achieve attractive financial returns and diversify the government's asset exposure by cultivating sovereign funding arrangements in tandem with first-class investment opportunities in the public and private markets of the GCC and overseas.