The FIDE Presidential Board in Al Ain, United Arab Emirates, acclaimed the announcement of FIDE President, Kirsan Ilyumzhinov to set up a Foundation for Modernisation of FIDE which will be funded by private investment.

A working Commission has been tasked by the FIDE President, with the objective of reviewing the development of chess these last years, and proposing new processes, procedures, regulations, events rating systems, chess in schools and generally reviewing all aspects related to the modernisation of FIDE and the chess world.

The Commission will be headed by the Chairman, FIDE President Kirsan Ilyumzhinov, and Commission members will be FIDE Deputy President Georgios Makropoulos, General Secretary Ignatius Leong, Continental President for Asia, Sheikh Sultan bin Khalifa Al Nayhan, Continental President for Europe Silvio Danailov, Vice President Ilya Levitov and Chief Executive Officer Geoffrey Borg.

All Federations, officials, players, arbiters, trainers and generally anyone wishing to contribute may contribute such suggestions in the next few days on the FIDE website.

A strategic plan for FIDE recommending changes to the World Chess Federation will be proposed to the Executive Board in Krakow, Poland in October 2011.