UAE: Dubai Chambers has signed an MoU with the Dubai International Financial Centre (DIFC) Family Wealth Centre to develop strategic recommendations that promote the implementation of family business governance standards in accordance with the ratings defined by the Family Wealth Centre, according to a press release. This move aims to inspire family businesses to establish a global presence by adopting world-class standards, encompassing ESG standards, Shariah compliant standards and other practices that have a positive impact on communities and contribute to sustainable development.
Other areas of cooperation between the two entities include access to the Family Office Club to boost global and commercial communications, recommending business structures and models adopted by the DIFC for succession planning as well as adopting certification and accreditation programs for family business advisors.