Signing a Memorandum of Understanding between Mohammed bin Rashid Al Maktoum Award for Arab Management & Talal Abu Ghazaleh and Co. International (TAGI)

This agreement is a strategic partnership aiming at the development and advancement of the management expertise in the Arab world- Alyousuf

Dubai, UAE- March 5, 2006: The Mohammed bin Rashid Al Maktoum Award for Arab Management and Talal Abu Ghazaleh and Co. International (TAGI) have signed a Memorandum of Understanding in Dubai regarding cooperation in developing a comprehensive plan for the Award.

The memorandum was signed between Mr. Nabil Ali Alyousuf, the Director of the Arab Management Award, and Mr. Ziad Ida, the Senior Director of Talal Abu Ghazaleh and Co. in Dubai. 

 Mr. Nabil Alyousuf stated that the agreement is a strategic professional partnership between both parties, and that the joint cooperation in developing a comprehensive plan for the Award aims at developing, managing and advancement of the "Arab Management Award". 

Alyousuf said that the MoU aims at expanding the scope and effectiveness of objectives for which the Award was established, restructuring the nature and number of targeted categories and introducing additional categories. Moreover, the MoU tackles nomination conditions and electronic submission of applications, as well as the general restructuring and its procedures and general policies and their objectives.

He added that His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, took the initiative in 2001 of establishing this Award to be the first management award periodically granted to institutions, individuals and work teams in the public and private sectors in the Arab world. The Award is intended to encourage application of the best management practices and innovative initiatives in Arab countries, motivate and honor distinguished Arab professionals, raise awareness and promote application of modern management, quality and excellence concepts in the Arab management. 

Based on the memorandum content, both parties agreed to set a comprehensive work plan to develop assessment standards and mechanisms, nominate experts to the assessment process and the Award Board of Trustees, develop and continuously update the Award website, and exert further promotional efforts to introduce the Award in the Arab countries.

During the signing ceremony, Alyousuf announced that offices and branches of Talal Abu Ghazaleh and Co. International and sister or affiliate companies in the Arab countries will be approved as liaison offices to serve the purposes and objectives of "Arab Management Award", receive nomination applications in Arab capitals, and employ the efforts and potential of the professional company to contribute to the Award promotion.

It is worth mentioning that the Arab Management Award has received a broad acceptance from all governmental and non-governmental parties operating in the Arab world, and attracted the attention of workers in the public and private sectors. Nomination applications are reviewed and assessed with the highest degree of neutrality, accuracy and integrity according to the assessment standards for each of the Award categories. 

The winner party in any of the Award categories will receive an appreciation certificate in addition to cash bonuses, namely: $25.000 for the first and second categories (distinguished Arab institution, distinguished Arab governmental institution), $20.000 for the distinguished Arab management experience and $15.000 for each of the remaining categories, including the distinguished Arab manager woman, distinguished Arab manager, distinguished Arab employee. For more information, please visit the Award website:  www.arabmanagementaward.com