AMMAN --- November 21, 2011 --- Talal Abu-Ghazaleh Graduate School of Business (TAGSB) hosted today a workshop entitled “Corporate Governance for Family Business” jointly organized by TAGSB and Konrad-Adenauer-Stiftung Amman under the patronage of HE Mr. Sami Gammoh, Minister of Industry and Trade.
At the beginning of his opening speech, the Minister congratulated TAGSB for being awarded the "Best Educational Institute in Administration in Asia by the World Education Congress Asia Awards 2011 in addition to its accreditation by the Foundation for International Business Administration Accreditation (FIBAA).
Addressing the attendees in the workshop which aimed at underlying challenges that encounter owners of family businesses and the legal requirements that govern the work of these corporate, the Minister stressed that enhancing principles of corporate governance leads to upgrading investments decision making at these entities, adding “if we realize that taking into account principles of corporate governance in ordinary and listed corporations is a necessity then implementing such principles will become vital at the family businesses for the nature, significance, wide-spread and impact of these businesses on the economy.” 
He stated that “corporate governance has become an essential factor for the success of the emerging markets. At the time when the global economy is tirelessly working to generate opportunities, on the other hand we find competitive threats that need to be dealt with to establish corporate governance practices as a means of success.”
The Minister said that many corporations have given governance practices the highest priority to minimize any dysfunctions that might occur at family businesses since good corporate governance practices guarantee their continuity and dissemination.
He highly praised the role exerted by the Companies Control Department at the Ministry of Industry and Trade to advance corporate governance practices in cooperation with international bodies. 
Entitled “Continuity of Family Business and its Impact on the Economy”, HE Dr. Talal Abu-Ghazaleh tackled strategies of survival and success of family business and the main challenges that face them, the main factors and mechanisms to deal with them.
He said that generally talk about economic corruption is directed to the public sector but not the private one this should be corrected. We in Jordan need awareness concerning corruption at the private sector.
He also called for organizing a lecture to tackle this subject.
He mentioned that other countries have already took the lead in issuance regulations that administer corporate governance for family businesses, though, Jordan is a pioneer in developing and updating laws.
HE Dr. Abu-Ghazaleh called for the provision of an integrated law draft concerning corporate governance to be presented to the government with a concentration on family business to be conducted by Talal Abu-Ghazaleh Organization and Konrad-Adenauer Foundation. 
In addition, Abu-Ghazaleh highlighted the conditions required for the continuity of the family businesses which are considered more energetic than the public corporations in addition to their capability to adapt with the needs of change and development.
The Arab world is known for its dependence in particular on the model of the family business. Despite this fact, it would be inaccurate to say
×
![img]()