Being the first of its kind in the world, GIBA seeks to recognize corporations striving to serve not only its shareholders but also its society, investors, customers, partners and its own employees in accordance to Islamic values. The award facilitates the integration of Islamic business excellence standards into economic activities of firms, across all sectors, in line with the vision of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, to position the emirate as the capital of the Islamic economy. The Award is based on a novel excellence framework and criteria of the Islamic Business Excellence Model developed by the Global Islamic Business Excellence Center.
The global reference for value-based business management.
The Global Islamic Business Excellence Center “GIBEC” is an initiative of the Dubai Economy aimed at extending Islamic economic activities across all sectors in the UAE and abroad.
The Islamic Business Excellence Model is an innovative framework that comprehensively translates the Islamic values into corporate governance and management enablers in order to create sustainable benefits to all stakeholders. The Model was developed after extensive consultations with various stakeholders in local, regional and global private and public sectors, and academia alike.
The model extends Islamic business practices beyond Islamic finance and beyond Shari'a compliance. It covers all economic sectors and provides companies with the necessary knowledge to adhere to Islamic values, in order to create a greater benefit for all of their stakeholders.
The model is based on the following fundamental concepts:
Noble means: The translation of values into actions or into management enablers leading to stakeholder benefit.
Noble ends: sustaining outstanding benefits for all stakeholders.
Islamic governance: includes elements of corporate governance in addition to Sharī'ah compliance.
Creativity and innovation: Fostering learning and improvement through creativity and innovation.
Quality assurance: Managing processes to consistently achieve quality.
The Islamic Business Excellence Model
Participants in GIBA stand to benefit in terms of:
To apply for the Global Islamic Business Excellence Award or for further information, simply contact the GIBEC office. Getting your organization familiar with the Award methodology and the application process are important steps before making the final decision to apply for the Award.
Registering your interest in the Award will allow you to be invented for all the forthcoming workshops/ seminars / conferences that are held from time to time.
Global Islamic Business Excellence Centre
Department of Economic Development
P.O. Box 13223, Dubai, UAE
Tel: 04-4455000 and 04-4455828