Thursday 12, November 2015

Jeddah – MENA Herald: Abdul Latif Jameel recently hosted a gathering of the newly rebranded Gulf Family Business Council (GFBC), the regional association of Family Business Network International (FBN-I), at its Jeddah headquarters.

The event was chaired by Hassan Jameel, GFBC board member and Deputy President and Vice Chairman of Abdul Latif Jameel Domestic, and attended by GFBC chairman, His Excellency AbdulAziz Al Ghurair, and Saudi board members.

The ‘Majlis’ reception provided a forum for attendees from family business owners to discuss the unique challenges, opportunities and common trends facing family businesses in the GCC.

The ‘Majlis’ receptions are held regularly as part of GFBC’s ongoing program of activities aimed at raising awareness about family business best practices and fostering collaboration and higher engagement between family businesses in the Gulf states.

In his opening remarks, His Excellency AbdulAziz Al Ghurair said: “Family businesses represent around 75% percent of the private sector in the GCC, making them the backbone of the economy and vital contributors to employment and job creation. At the Gulf family Business Council, our activity aims to contribute to building and sustaining strong family businesses in the GCC that flourishes from one generation to the other.”

Hassan Jameel, also said: “We, at Abdul Latif Jameel, are honoured to play an active role within the Gulf Family Business Council and to contribute to the organisation’s vital mission. As a Saudi family business that has successfully navigated shifting economic cycles and evolving market conditions for over 60 years, we find great value in exchanging experiences and learnings with our peers from across the Gulf.”

The event program included two engaging sessions, a keynote session and a panel discussion led by family business speakers. The sessions covered a number of pertinent topics, ranging from the unique nature and effective characteristics of family businesses, the challenge of sustaining innovation across generations, and best practices for maintaining professional standards and governance systems. Each session was followed by an open-floor discussion between speakers and attendees, providing the opportunity to engage in beneficial conversations.   

Family business owners attending the ’Majlis’ reception had the opportunity to share best practice and multi-generational knowledge and experience with like-minded peers, giving an opportunity to expand their outlook on various family business topics.