Wednesday, 7 December 2016

Dubai Department of Economic Development holding education sessions for Global Islamic Business Award

The Global Islamic Business Excellence Centre in the Department of Economic Development (DED) in Dubai, UAE has hosted a series of workshops to build awareness of its Global Islamic Business Award. Eligible companies include not only Islamic financial institutions but also firms from the real estate, food, and other sectors.

Participants in the Global Islamic Business Award stand to benefit from the comprehensive prior assessment process on the level of integration of Islamic value-based standards, business excellence, and sound corporate governance principles. The award is also complements Dubai's continuing efforts towards improved quality, productivity and competitiveness.

"More than an acknowledgement of excellence, the Global Islamic Business Award is an initiative aimed to galvanise Dubai's competitiveness into an enabler of business growth, capability development and sustainability. We will continue holding similar workshops for all the firms interested to learn more about the award as well for those interested to apply for the 2016 cycle," said Khalid Al Kassim, Assistant Director General for Economic Development.

Companies interested in applying for the inaugural award are invited to a one-day workshop in which the award methodology and its benefits, assessment criteria as well as application process are explained by Dr Naceur Jabnoun, author and adviser in business excellence.

The Global Islamic Business Excellence Centre has also been holding workshops for assessors who evaluate corporate applicants according to the new Islamic business excellence methodology but also in terms of providing guidance to applicants on future quality improvements suggested by the model. Forty-two assessors were trained and DED will continue to provide training and assessors certification under the award programme.

The Global Islamic Business Excellence Centre was launched with the objective of expanding Islamic economic activities beyond Islamic finance and product certification. "The Global Islamic Business Excellence Centre is a strategic initiative by the Department of Economic Development to accelerate the development of an Islamic business ecosystem in line with the emirate's Islamic economy capital initiative. It's therefore essential for the initiatives of the Centre to reflect the enterprise diversity in Dubai and their successful pursuit of excellence in their respective fields," remarked Al Kassim.

The Global Islamic Business Excellence Centre also intends to provide advice on shari'ah compliance and certification while also developing research capabilities to support awareness promotion and education on Islamic business practices. In addition, the centre will train assessors and experts in Islamic business excellence, support the development of shari'ah auditors and shari'ah board members, and disseminate practical knowledge about Islamic economics and governance.