HSBC forum addresses key challenges facing MENA family businesses

Updated 07 October 2017

HSBC forum addresses key challenges facing MENA family businesses

HSBC clients of leading family business owners in the UAE and other GCC countries gathered at the Family Enterprise Forum organized recently by HSBC Private Bank in Dubai to discuss some key challenges facing family businesses in the region.
The increasing importance of succession planning as a means to avoid the third generational trap, wealth planning through effective investments and how can wealth benefit the wider community were among the key themes covered during the forum.
When it comes to philanthropy, the value of giving back to community is engraved in the culture and tradition of the people in the Middle East. According to a recent global study by HSBC Private Bank titled Essence of Enterprise, three in 10 (29 percent) Middle Eastern entrepreneurs in their 20s (vs 20 percent globally) are motivated to set up their business in part by the desire to have a positive impact on their community.
In his welcoming notes at the forum, Abdulfattah Sharaf, group general manager, chief executive officer UAE, and head of international, HSBC Bank Middle East Limited, said: “Private wealth has been growing steadily across the UAE and the region over the last few years. As our wealth grows, so does the importance of giving back to our community. HSBC understands the potential of each and every person to influence change and contribute to a better world, both professionally and personally. HSBC recently committed $150 million to be given to charities across the world to mark our 150-year anniversary.”
He added: “I am personally very proud of the strong history of giving in my organization — and the event today has been designed to share our expertise to ensure philanthropy is a strong part of our clients wealth planning journey.”
The Family Enterprise Forum is one of HSBC Private Bank’s flagship events hosted around the world for multigenerational family businesses, designed to provide the latest thinking around wealth planning and investments from industry specialists.
Sobhi Tabbara, HSBC’s global market head of private banking, Middle East said: “We are delighted to have this opportunity to bring together our valued clients along with HSBC Private Bank’s experts to provide insight and guidance supporting them through the complexities of multi-generation transition.”

Global Leadership Awards feature three Saudi winners

Sofana Dahlan, founder of Tashkeil; Malaysian Consul General Dato Mohammed Ali bin Selamat; Saudi media and political analyst Khaled Almaeena; Khashoggi Holding Group Vice Chairman Hassan Khashoggi and Mohamed Rafeeq, CEO, My Events International Saudi Arabia, at the event in Jeddah recently. (Photo/Supplied)
Updated 16 August 2018

Global Leadership Awards feature three Saudi winners

The 8th Global Leadership Awards (GLA), which took place in Kuala Lumpur recently, for the first time had winners from Saudi Arabia in two different categories and Saudi media and political analyst Khaled Almaeena as the Lifetime Achievement Award winner.

Almaeena hosted the Malaysian Consul General Dato Mohammed Ali bin Selamat, and the two winners of the GLA, Sofana Dahlan and Hassan Khashoggi, along with Mohamed Rafeeq, CEO of My Events International Saudi Arabia, at his office in Jeddah.

Welcoming the guests, Rafeeq said: “When we disclosed the news of GLA Secretariat’s selection of Khaled Almaeena for the Lifetime Achievement Award for his achievements in media, expatriates’ welfare and women empowerment in the region, he just had one thing to say. I would also like to see some Saudi young men and women recognized at the GLA.”

Almaeena nominated a number of Saudis who have excelled in various fields, including two Saudis who won the GLA in different categories.

Recipient of the “Leadership Excellence in Social Entrepreneurship” award, Sofana Dahlan is a well-known lawyer, social entrepreneur and among the first three Saudi female lawyers practicing in the Kingdom. She is the first Saudi female senior economic policymaker and the founder of Tashkeil, a social enterprise that promotes creative entrepreneurs.

Hassan Khashoggi, who won the “Young Entrepreneur of the Year” award, is vice chairman of the Khashoggi Holding Group, which was established in 2010. It is a leading private holding that invests in products, services and solutions for the energy and power sectors. It also invests in medical sectors, food, aviation and financial services for the real estate sector.

The event was organized by The Leaders International, a high-profile business magazine and is endorsed by American Leadership Development Association (ALDA), a US-based NGO which showcases leadership at large.

Achievements in more than 30 categories are recognized and honored with a unique award. The winners are selected by high-profile judges from all parts of the world. The event seeks to honor leaders for their exemplary contributions to global growth in economic and leadership development.

Since both the winners could not attend the event in Kuala Lumpur, My Events International Saudi Arabia had arranged for the trophies to be handed over to them by Malaysian Consul General Mohammed Ali bin Selamat in Jeddah.

The consul general told the award winners: “We hope that you attain further excellence in your respective fields. I hope this promotion of bilateral relations between Saudi Arabia and Malaysia will flourish in the future.”

Khashoggi said: “Hopefully, for future GLA events, we will have more awareness of Saudi talent that is hidden in the Kingdom and we will recognize and reward them. Thank you, Dr. Khaled Almaeena and the My Events team for this honor.”

Dahlan said: “This award is a very important bridge between Saudi Arabia and Malaysia because it not only recognizes our achievement but also opens a dialogue and creates awareness about what is really happening in Saudi Arabia beyond the news.

“It is very important that through these kinds of awards and events, we are able to bring nations together and change negative perceptions.”

Almaeena congratulated the winners and said: “These are two very fine young people making a change. Where many do their work in the limelight, they are making a change quietly. We have always recognized people from the West and it is time to look toward the East too. There is so much talent here.”