In Dubai, 95 percent of all business establishments are SMEs, responsible for 43 percent of the total workforce, and 40 percent of the total value added in the Emirate – hence the drive to support MSMEs on good governance by the Pearl Initiative
Dubai: The Pearl Initiative, the business-led non-profit organisation promoting a culture of corporate transparency and accountability in the Gulf region, recently collaborated with Dubai Business Women Council (DBWC) on a two-day workshop to build MSMEs’ practical competencies in governance best practices. The workshop targeted 30 Dubai-based MSMEs and was held at the Dubai Chamber of Commerce and Industry.
The workshop comes in the wake of a workshop rolled out earlier this year in Oman, by the Pearl Initiative in collaboration with the International Finance Corporation (IFC), where Omani MSMEs were trained to apply best practices in corporate governance to boost their market competitiveness.
The purpose of the workshop was to practically demonstrate and explain the long-term benefits of good corporate governance practices to participants, and to have them engage with effective ways and tools with which to apply governance for improved business outcomes.
Attendees who completed the workshop received a Continued Professional Development (CPD) certification which is globally recognised and will add value to their business engagement activities over the course of their careers.
After receiving an introduction to corporate governance principles, stakeholder management, corporate culture and workforce diversity, attendees engaged in activities and exercises which demonstrated how they can successfully apply governance principles for sustained business success. The role of governance practices in building internal structures and secure stakeholder confidence was also highlighted.
Yasmine Omari, Executive Director at the Pearl Initiative, said: “Through this corporate governance training series, we are addressing a growing developmental need of MSMEs identified in the Gulf Region. This alone justifies the premise for our workshop series – the application of corporate governance principles has a proven ability to enhance business outcomes and competitiveness. Through this workshop series, we want to change the region’s perception about governance not being commonly thought of as beneficial for MSMEs, as highlighted in our 2017 report.”
In turn, Nadine Halabi, Business Development Manager, Dubai Business Women Council (DBWC), said: “This workshop is one of the most important training programs we provide to our members of MSMEs business owners, because it aims at enhancing awareness about governance and its significance in achieving the sustainable growth of companies and their operations.”
She added: “Governance is an integral part of the efforts made to instil confidence within companies, their clients, and their social environment. We, at the DBWC, are keen on strengthening our members’ competitiveness, and providing them the training requirements to always be in the lead.”
“Therefore, our collaboration with the Pearl Initiative in organizing this workshop is in line with these objectives to enhance our members’ performance and competitiveness in order to introduce them to the latest global practices in corporate governance and its applications at all levels,” Halabi explained.
Founded in 2010, the Pearl Initiative is a Gulf business–led non-profit organisation promoting a corporate culture of accountability and transparency as key drivers of competitiveness and sustainable economic growth across the Gulf Region. The organisation develops programmes and publishes regional research reports and case studies to promote the implementation of higher standards of corporate governance amongst business and student communities across the Gulf Region.
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About the Pearl Initiative
Prominent business leaders from across the Gulf Region formed the Pearl Initiative in 2010 to create a non-profit vehicle for the Private Sector to collectively take the lead in adopting higher standards in corporate governance, accountability and transparency to enhance business innovation, opportunity and value creation. With over 40 regional and international partners, the Pearl Initiative brings together business, government and civil society decision-makers to share best business practices and to help maximise the economic opportunities available to companies within the region. The Pearl Initiative also supports Gulf-based university students to identify and embrace strong ethics as they embark on their future careers.
The Pearl Initiative seeks joint collaborative action between regional and global business leaders, international institutions, government bodies and wider initiatives within the Gulf Region, exhibiting positive leadership and sharing knowledge and experience in order to influence the entire regional business and student community. For more information, please visit www.pearlinitiative.org or contact us on +971 6 515 4605 or via email at enquiries@pearlinitiative.org
Follow us also on @PearlInitiative on Facebook, YouTube and Twitter and @ThePearlInitiative on LinkedIn.
About Dubai Business Women Council (DBWC):
Established in 2002, under the umbrella of the Dubai Chamber of Commerce and Industry, the Dubai Business Women Council is the UAE’s leading platform for the personal and professional development of business women in the Emirate of Dubai.
The Dubai Business Women Council celebrated the 15th anniversary of its establishment in 2017. During this time, the Council has dedicated its efforts to enhancing gender equality in society and encouraging women to play an active role in building the country and stimulating sustainable development.
Providing education, training and networking opportunities to aid in achieving holistic development and meeting career aspirations of UAE-based business women is at the heart of the DBWC’s mission, in addition to inspiring and encouraging women to play their role in society and the economy.
DBWC’s tailored workshops and training sessions are hosted exclusively for its members and provide valuable information about the latest knowledge, skills and best practices for women entrepreneurs and leaders. For more information about the DBWC and how to join its community of visionary and influential trailblazing women and benefit from its services and initiatives, visit www.dbwc.ae.
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