The Dubai Centre for Family Businesses has commenced its activities – under the umbrella of Dubai Chambers – with the launch of the Governance Series, a series of educational sessions focusing on key issues influencing the success of family businesses.
The sessions will explore topics such as UAE laws and the effective implementation of governance, with the goal of supporting strong succession planning and contributing to the continuity and sustainability of family businesses.
The inaugural event, which attracted around 100 participants, provided a comprehensive overview of the Federal Decree-Law No. 37 of 2022 in relation to Family Companies and Law No. 9 of 2020 regulating family ownership in Dubai. In addition, the session enabled attendees to network with fellow members and engage in an insightful panel discussion with distinguished experts sharing their diverse perspectives on the new law.
The event began with a presentation from the Al Tamimi & Company law firm, which provided an overview of the legal and legislative ecosystem for family businesses in Dubai. Key aspects of the two laws were also reviewed, together with the rules and procedures governing and regulating the work of family businesses operating in the Dubai International Financial Centre (DIFC).
This was followed by a panel discussion featuring representatives from Al Tamimi & Company, DIFC, and Hawkamah, which explored the role of the two pieces of legislation in enhancing the sustainability of family businesses and promoting good governance.
Abdul Aziz Abdulla Al Ghurair, Chairman of Dubai Chambers, commented, “The Dubai Centre for Family Businesses offers an integrated system of support and training programmes on issues of strategic importance to all family businesses. The launch of the Governance Series marks the beginning of the Centre’s activities, which will focus on developing effective governance frameworks and systems to be adopted by family businesses to ensure a smooth succession process between generations and promote their growth and sustainability.”
The Governance Series will focus on laws affecting family businesses and explore best governance practices, which play an important role in succession planning. The sessions are designed to showcase the benefits of adopting strong governance principles and will enable the family business community to learn more about how to ensure the effective implementation of governance at the company, ownership, and family levels.
Six sessions will be organised as part of the Governance Series during 2023 encompassing a variety of topics and key stakeholders. The initiative is set to raise awareness on the services offered by the Dubai Centre for Family Businesses, highlight its support to family-owned businesses, and create networking opportunities.
To help build capacity and promote best practices, the Governance Series will also feature insightful sessions with representatives from successful local, regional, and global family businesses, who will discuss their experiences and areas of expertise with participants.