UPDATE 1-Nasser al-Shaikh resigns from Dubai Islamic Bank

(Adds more resignations, details, background)

By John Irish and Tamara Walid

DUBAI, June 22 (Reuters) - Former Dubai Department of Finance director-general Nasser al-Shaikh resigned from three more companies on Monday linked to Dubai's government, including Dubai Islamic Bank DISB.DU, a day after leaving its affiliate Deyaar DEYR.DU.

Officials and statements from Dubai Islamic, National Bonds, and education provider Taaleem confirmed Shaikh's resignations just a month after he was replaced as head of Dubai's Department of Finance. Shaikh declined to comment.

The move will likely add to investor confusion as Shaikh had spearheaded the launch of the emirate's $20 billion bond programme in February, a move aimed at easing worries that state-linked companies could default on debts.

He was removed from his post in May without explanation.

None of the companies gave a reason for the resignations, which initially sent Dubai Islamic shares lower, before closing 1.2 percent higher.

Shares in Deyaar, in which Dubai Islamic holds around a 41 percent stake, rallied on Monday after falling 1.7 percent on Sunday.

Dubai Islamic and Deyaar said in statements they would meet shortly to consider the ratification of Al Shaikh's resignation. A spokeswoman for Shaikh confirmed he had also stepped down from National Bonds and Taaleem.

Two spokeswomen said he would stay on as chairman of troubled mortgage lender Amlak AMLK.DU, in which Emaar Properties EMAR.DU holds a 45 percent stake, according to Reuters data.

Deyaar chief executive Markus Giebel told Reuters late on Sunday Deyaar was a stable company with the backing of Dubai Islamic Bank, and Shaikh's resignation would not have a big impact on the company.

CONFUSION

The resignations have fuelled speculation and rumours after investors were left bewildered following Shaikh's dismissal a day after outlining the emirate's handling of the financial crisis and its recovery plan at the World Economic Forum in Jordan.

Executives and officials, speaking on condition of anonymity, have said Shaikh was considered to not be towing the official line, developing ties too close to media and disclosing information without the consent of government heads.

During his second tenure as the head of Dubai's finances, Shaikh earned respect from investors and analysts for efforts to navigate difficulties in the former boom-town and help bring much-needed transparency.