The GCC’s first Family Business Forum consultant committee chief today announced the participation of Federation of GCC Chambers and the Federation of UAE Chambers of Commerce and Industry in the GCC First Family Business Forum, under the Patronage of her Excellency Al Sheikha Lubna Bint Khalid Al-Qassimi Minister of Economy. The forum will be held from June 6 to 8.
The Forum aims to discuss and resolve local and international issues that face family businesses. Topics on the agenda include continuity in family businesses in our age of globalization, transforming family-owned businesses into governmental agencies and impact of the stock market and banks in possessing and managing the family owned organizations.
The role of women and upcoming generations will also be a vital topic of discussion. Seminars and lectures will be presented about women’s roles in managing businesses and the ability of leading the following generations into successful business management.
The third day of the forum a workshop, conducted by experts from ‘Al Khabeer’ financial consultant’s office, will look at the issues surrounding family business owner’s publicly listing their companies on the stock market.
Specialized economists, politicians, lawyers, bankers, and stockmarkets specialists will give lectures including: Hassan Thahabiyah, consultant; Dr Amr Alladin Zeidan, head of family owned business unit in the Arab league; Lawyer Walid Shinarah from Al-Tamimi office for legal consultancies in Dubai; lawyer and Professor Abdul Wahhab Attarauneh the legal consultant in Jordan Stock market committee; Dr Fawaz Ben Abdul Sattar Al-Alami, Minister of Commerce and industry's advisor and implementer of KSA commitments in World Trade Organization; and Engineer Sobhi Beterji.
In addition, the participation of elite businesswomen and specialist ladies, such as Mrs Hessah Al-Oun, Mrs Reham Al-Ghanem, the Executive Director of Fuad Al-Ghanem and Sons for General Trading and Contractors Company in Kuwait, and Mrs Fatima Jawad, Secretary-General of Arab Businesswomen Board in Bahrain, create a solid expertise of the region.
Mr Majed Al-Garoub, the President of the forum committee, said he is thrilled to receive the academic and scientific support from some of the biggest and the most important GCC universities. Zayed University assured the participation of number of its professors, such as its Dean Mr Michael Owen. Effat University for girls confirmed its participation and support by the unique presence of its Dean Dr Hayfaa Jamal Al-Leil.
Al-Garoup said that he highly values the patronage of Her Excellency Al Sheikha Lobna Bint Khalid Al-Qasmi and the participation of UAE Chambers of Commerce and Industry.
“Deans of business collages in all GCC and UAE universities as well as the heads of management collage departments have all been generous in their support,” he said.
“Nominated students from universities have been granted free attendance in order to provide support to the future of the generations in family businesses.”
The National Bank of Dubai will also provide its support to the GCC’s first Family Business Forum with a high profile speaker sharing valuable banking knowledge.
In addition, the vice president of Citibank Dubai, Mr Abdul Rahman Fahad Al-Harthi, and Mr Abdul Hadi Shaef, the former General Manager of Al-Ahli Commercial Bank, will present worksheets on banking and its effect on family firms. They will focus on three main areas which include the bank’s role in developing family firms by merging and possessing and running families' fortunes as well as the importance of deposit funds for the legatees in solving the issues of estates once the founder dies.
“The patronage and participation of the GCC chambers of Commerce, including Oman Chamber of commerce, will ensure the high attendance of delegates,” he added. His Highness Abdul Allah Al-Muallemi, Chief of Chamber of Commerce and Industry in Jeddah, also is a prominent participant.
Al-Garoub also stated that the consultant committee had decided to issue free invitations to all GCC government employees, including ministries of Economy, Commerce, Industry, Finance, Central Banks and Stock Market committees.
Juridical and legislative representatives are also invited to attend free-of charge.
“This is due to the importance of communication in this one-of-a-kind, yearly GCC forum. The forum brings together the Gulf society, comprising 20,000 GCC family owned businesses, who command two trillion Saudi Riyals worth of businesses and employ 75% of local and foreign labor in the GCC market.
