Cooperation between the Dubai Family Companies Center and"Emirates NBD"
Dubai, July 15/ WAM/ The Dubai Family Companies Center, which works under the umbrella of Dubai Chambers, signed a memorandum of understanding with Emirates NBD, to enhance efforts to support family companies in Dubai and stimulate their long -term sustainable growth.
According to the memo, the center will cooperate with the Department of Special Banking Services at Emirates NBD with the aim of developing an integrated framework to help family companies protect their wealth and transfer their legacy and values to future generations, including the governance of family companies and leadership planning.
The center will also provide the bank’s clients from family companies, consulting services specialized in the field of governance, which includes the development of the family charter and the preparation of specially designed action plans to ensure the smoothness of the management of management across generations.
According to the memo, Emirates NBD will support its customers to participate in the leadership development programs organized by the Dubai Family Companies Center, with the aim of enhancing their knowledge and skills in the fields of governance, planning leadership and business continuity.
The Memorandum of Understanding stipulates that the Dubai Family Companies Center organizes workshops designated for Emirates NBD customers to review ways to develop family corporate governance, leadership succession planning, family offices structures, and other relevant issues, and experts and specialists from Emirates NBD will participate in the center’s activities.
Khaled Al -Jarwan, Vice President of Commercial and Institutional Services in Dubai Chambers, said that family companies play a pivotal role in the economic development process and their continued success is an essential pillar in sustaining growth.
He pointed out that the cooperation between the Dubai Center for Family Companies and Emirates NBD reflects the joint commitment to stimulate the growth of family companies across generations by providing them with the necessary support to ensure the prosperity of their long -term business and enhance their competitiveness at the local and global levels.
He affirmed the bank’s keenness to support family companies to adopt best practices in the fields of governance, planning for leadership succession and developing future generations’ skills, in a way that contributes to enhancing their flexibility and their ability to adapt to economic variables, and commit to developing new strategic partnerships to provide integrated solutions that support the continuity of these companies, and expand them from their vital role in supporting economic diversification and consolidating Dubai’s position as a global center for business.
For his part, Mohamed Al -Bastaki, head of private banking services for Emirates NBD Group, said that the new partnership confirms the bank’s commitment to support economic growth in line with the Dubai Economic Agency.
He added that the recent organizational and legislative amendments in the Emirates contribute to enhancing the readiness of family companies for the leadership of leadership succession, pointing out that it is estimated that only 20% of family companies in the Middle East region are managed by the third generation.
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