Media ININ Economy We Trust
Sharjah 14-09-2019
The Pearl Initiative, a non-profit organization that promotes a culture of accountability and transparency among private sector organizations in the Gulf region, has launched the region’s first ‘Corporate Governance Fundamentals’ platform to provide corporate guidance for corporate governance and transparency, review plans and strategies, and develop Management systems commensurate with the requirements of growth.
The platform, which includes the theoretical guidelines, is aimed at videos and graphs for small, medium and small businesses, in order to translate the vision of the Pearl Initiative on the importance of this type of company in driving growth, stimulating markets, expanding the scope of partnership in production and services, as well as innovative ideas. Includes all areas of work.
The launch of the platform came at the recent Pearl Initiative Forum to discuss the role of good governance in ensuring the sustainability and success of micro, small and medium enterprises, with the participation of a number of companies and employees working in this sector and a selection of corporate governance experts and business leaders.
The forum included a panel discussion on the pivotal role of best practices in the field of corporate governance in ensuring the continuity of business and growth of companies, review the role of corporate governance systems in increasing the volume of investment, finance and geographical expansion of the company and review the successful business models of micro, small and medium companies, which was adopted by the adoption of good governance practices Economic market and expand its activities in other regions.
The session was moderated by Shaikh Fahim Al Qasimi, Head of Government Relations in Sharjah and partner of AQ & B Investment & Consultancy. Issam Al Disi, Director of Strategy and Policy, Mohammed Bin Rashid Establishment for SME Development, and Dr. Sassan Khatib Shahidi, Founder and Chairman German Imaging Technologies and Toshar Singhvi Senior Manager, Al Hilal Startups.
Sheikh Fahim Al Qasimi said during the session that the principles of good governance can not be applied efficiently and effectively unless the theory is accompanied by practical practices, where real change in corporate culture requires time, so we cooperate with our customers to provide a methodology based on the implementation of this change in stages Within a startup or leading company.
Yasmine Omari, Executive Director of the Pearl Initiative, emphasized that the Corporate Governance Fundamentals platform is an important step in strengthening the Pearl Initiative’s efforts to raise awareness of the importance of governance practices in micro, small and medium enterprises and provide guidance for their implementation.
She pointed out that SMEs and micro-enterprises contributed 53 percent of the GDP, pointing out that this type of companies constitute 98 percent of the companies registered in the country by about 320 thousand companies and that the provision of growth potential for this vital and important sector contributes to the promotion Stability and support the competitiveness of the UAE and GCC markets in general.
He pointed out that governance practices play a pivotal role in enhancing the resilience of companies and their ability to cope with market fluctuations and ensure the success of their business. Of financing opportunities and ensure that capital is invested and managed efficiently and effectively.
For his part, Dr. Sassan Khatib Shahidi explained that good governance is based on a number of foundations, including appropriate administrative structures, information flow, financial reports, succession rules, advisory structures and independent auditing, stressing that adhering to a minimum of mechanisms to implement these practices will benefit micro, small and medium enterprises. .
