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 Global Islamic Business Award

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 Islamic Business Excellence Center


Vision

The global reference for value-based business management.

Mission

Promote Islamic values and governance in business organizations to enhance sustainable development and benefit for all stakeholders.


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.

GIBEC is envisaged as a part of the global Islamic economy institutional infrastructure, specifically mandated to deal with management and governance practices based on Islamic values. The Center will spearhead the qualitative developments necessary in an Islamic economy.

Integrating Islamic business excellence standards into economic activities of financial and non-financial firms is expected to promote business and economic sustainability. Importantly, it is expected that GIBEC will significantly contribute the development of a comprehensive Islamic business ecosystem in line with Dubai Plan 2021.

To acknowledge and promote business based on Islamic Values, GIBEC has established the Global Islamic Business Award (GIBA).

The Islamic Business Excellence Model

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:

  1. Noble means: The translation of values into actions or into management enablers leading to stakeholder benefit.

  2. Noble ends: sustaining outstanding benefits for all stakeholders.

  3. Islamic governance: includes elements of corporate governance in addition to Sharī'ah compliance.

  4. Creativity and innovation: Fostering learning and improvement through creativity and innovation.

  5. Quality assurance: Managing processes to consistently achieve quality.


The Islamic Business Excellence Model

GIBA Model

The Award benefits for participants

Participants in GIBA stand to benefit in terms of:

  • Obtaining clear and comprehensive external feedback on the strengths of the organization and opportunities for further improvement.
  • Aligning employees’ personal goals with business values thus leading to an increase in motivation and higher productivity.
  • Improving Islamic governance and adding value to all stakeholders in general.
  • Championing and having global recognition in Islamic business excellence.

The application process

  • Apply for participation
  • Attend workshops (methodology and submission content)
  • Submit application
  • Assessors' site visit
  • Receive assessors' feedback report
  • Award Jury meetings
  • Winners recognition ceremony


Applying for the GIBA

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.


Contact us: 

Global Islamic Business Excellence Centre

Department of Economic Development

P.O. Box 13223, Dubai, UAE

Tel: 04-4455000 and 04-4455828

Email: giba@dubaided.gov.ae








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