Prominent companies were recently brought together by the Family Business Council of the Gulf, the association of the Family Business Network International (FBN) of the region to talk about recent developments and important matters in family businesses including succession and governance planning.
Abdul Latif Jameel hosted the meeting in Jeddah, Saudi Arabia. The meeting was part of the ongoing activities of the Gulf’s Family Business Council which aims to foster collaboration, improving practices in family businesses, and sharing knowledge between family businesses in the Gulf Cooperation Council (GCC).
The forum also talked about the approaches to creating a sustainable shared vision for the future of family businesses to ensuring ongoing commitment of shareholders across multiple generations.
The FBCG is the Gulf Cooperation Council’s chapter of Family Business Network (FBN), the largest global family business organization. It is a trusted and safe environment for Family Business members to learn from one another.
The Family Business Council-Gulf (FBCG) was launched in April 2012 as a non-profit and a private organization
The purpose of the FBCG is to facilitate the continuity of family businesses in the GCC over generations. They seek to identify and address issues which are specific to the region of the GCC, and contribute to the intellectual progress on topics that are related to the management of family businesses, especially on family governance, succession, the development of the next generation and family communication. They also endeavor to facilitate and promote the positive role of family businesses in society, as well as the economy.
The group is a community of family businesses in the Gulf Cooperation Council who are interested in promoting professional governance, social responsibility, and business continuity over generations.
The network is said to be founded on the principles of trust and open communication while encouraging the active participation of members.
Members are committed to sharing insights and experiences in an atmosphere of confidentiality, respect and professionalism. Discussions and debates are conducted in a professional and respectful manner.