The Dubai Family Business Center, which operates under the umbrella of Dubai Chambers, has provided a guidance model for the Family Charter. This is part of the Centre’s ongoing efforts to provide practical guidance and models on key issues of concern to family businesses. , which help improve their growth and development at the level of administrative and operational processes..
The representative model of the Family Charter is essential for building sustainable, prosperous and harmonious family businesses, as it provides an overview of the basic elements and structures that contribute to the long-term success and continuity of family businesses and aims to empower both the foundations and families that make up the family governance mechanisms. providing integrated governance structures that form the compass that effectively guides family businesses to meet challenges and capitalize on promising opportunities..
The model includes practical examples of effective governance practices, starting from the definition of roles and meeting mechanisms, to the eligibility criteria for joining governance groups in the family business, as these pillars are the basic components that will strengthen the structure of family businesses and ensure its success and sustainability from generation to generation. It also addresses governance practices specifically designed for family businesses, in addition to an overview of family boards that help increase harmony and ensure continuity..
Through the expressive model of the Family Charter, the Dubai Family Business Center sought to present mechanisms for developing the family charter and its most prominent provisions, paving the way for the future to meet the goals of the expressive model and meet their needs, and build a shared commitment to family values, establishing common goals and visions, to achieve harmony between family members and involve them in work, establishing a clear direction and increasing loyalty, trust and flexibility. family business.
It is noteworthy that the Dubai Center for Family Businesses, which operates under the umbrella of Dubai Chambers, was launched in May 2023 to be the organization responsible for ensuring the sustainability and growth of family businesses in the Emirate of Dubai by developing and improving this vital sector. its economic contribution in a way that is useful for the future development plans of the emirate. The center works closely with partners in the public and private sectors and provides support to all family businesses operating in Dubai.
