Oman- FBCG hosts Majlis to share best practices in family business governance
Date
12/16/2017 10:58:23 PM
(MENAFN- Muscat Daily) Muscat- The Family Business Council Gulf (FBCG), the regional association of the Family Network International (FBN), recently conducted one of its regular GCC Majlis receptions in Muscat.
The closed door meeting held for prominent business leaders discussed solutions to ensure family business continuity, according to a press release.
The Majlis meetings is part of on-going activities aimed at discussing best practices and fostering collaboration between family businesses in the GCC.
Hind Bahwan, Omani board member of the FBCG, said: 'Family businesses contribute about two thirds of the GCC region's GDP, in addition to their roles in bringing long-term economic stability to each country.'
She added, 'At the FBCG, we address key topics related to the continuity of GCC family businesses, and enable sharing and discussing best practices that would help family businesses develop and evolve.'
The Oman Majlis was hosted by FBCG's founding member in Oman, WJ Towell Co, a family business that is over 150 years old. The event included a panel discussion between family members from Sultan family, H E Maqbool Sultan and Husain Sultan, and a key guest-speaker from the network of FBN International, Antonio Gallardo Ballart.
Ballart is the co-president of Gallardo Family Holding, a business group that owns and operates a leading international family business founded in 1943, based in Barcelona, Spain. He shared his family experience in developing a family constitution which helped the family create transparent family rules and agree on family values and a common vision.
The closed door event was attended by family representatives from the Oman and other GCC countries. The panel discussion between the host family and the guest speaker triggered constructive discussion between the audience from family businesses on the different practices of eastern and western family business aimed at maintaining family unity across generations.
FBCG continues to address key topics related to the continuity of GCC family businesses through various activities including the Annual Legal Roundtable, the Annual Summit every April, educational workshops, and other more exclusive knowledge sharing events.
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