Dubai Centre for Family Businesses successfully concludes two sessions in Governance Series

Date Posted: 13 December 2023

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A total of 40 family business representatives participated in the sessions

• Mohammad Ali Rashed Lootah: “We are proud to spearhead the initiatives of the Dubai Centre for Family Businesses and remain committed to increasing awareness of the important role of governance in securing the growth and continuity of family businesses in the emirate.”
• A total of 40 family business representatives participated in the sessions, which focused on best practices in governance to drive multi-generational business continuity and contribute to sustainable economic growth.

Dubai, UAE – The Dubai Centre for Family Businesses, which operates under the umbrella of Dubai Chambers, has successfully concluded two more sessions in its Governance Series. A total of 40 family business representatives participated in the sessions, which focused on best practices in governance and leadership transition, as well as ways to drive multi-generational business continuity and contribute to sustainable economic growth.

Commenting on the significance of the sessions, H.E. Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, said: “We are proud to spearhead the initiatives of the Dubai Centre for Family Businesses and remain committed to increasing awareness of the important role of governance in securing the growth and continuity of family businesses in the emirate. The Governance Series creates a valuable platform for knowledge sharing that enables participants to learn from the experiences of international family businesses and leading global experts, with the goal of further strengthening Dubai’s family business ecosystem.”

His Excellency noted that the vast majority of companies in Dubai are family-owned businesses, making their contributions crucial to the national economy. H.E. Lootah added: “We remain committed to achieving the wise leadership’s vision for the sustainable success of family businesses and enabling this vital sector to play a key role in realising the goals of the Dubai Economic Agenda (D33), which aims to double the size of the emirate’s economy in the coming decade.”

The session hosted in October welcomed family business experts Bryn Monahan, a fourth-generation family business member and thought leader in the family office space; and Dr. Basma Al Zamil, a prominent family business member from Saudi Arabia’s Zamil Group. The guests participated in a panel discussion moderated by Farida F. El Agamy, who has extensive experience as a lawyer, entrepreneur, and governance expert and is currently the General Manager of the Tharawat Family Business Forum. Topics explored during the session included assembling and nurturing a dedicated team, effectively managing a family office, establishing governance protocols and ethical guidelines, and mastering wealth management to ensure a thriving legacy.

The latest session was held this month and featured an insightful presentation from Martin Roll, an experienced global business strategist with more than 25 years of board and C-suite counselling experience. Hosted under the theme ‘Fit for Generations: The Essentials of Successful Family Business Strategy,’ the session examined strategic frameworks, case studies, and concrete examples of how family businesses can drive multi-generational sustainable growth and create a positive social impact.

Consisting of multiple sessions hosted throughout the year, the Governance Series is designed to help family-owned companies in Dubai overcome common challenges, promote networking opportunities, and inspire participants by inviting local, regional, and global family businesses to share their multi-generational success stories. The sessions aim to create opportunities for family businesses to learn more about how to effectively implement governance at the company, ownership, and family levels.

Launched under the umbrella of Dubai Chambers in May 2023, the Dubai Centre for Family Businesses is entrusted with ensuring the growth and long-term sustainability of family businesses in Dubai. The centre aims to further develop this vital sector and enhance its economic contribution to support the emirate’s future development plans.