Now, a UAE institute to teach good business ethics

Abu Dhabi, Dec 18 (IANS/WAM) An Islamic institute to help organisations inculcate good business ethics is being envisaged here, it was announced Saturday.

In this endeavour, the Abu Dhabi Islamic Bank (ADIB) and the Higher Colleges of Technology (HCT) have signed an MoU to create the region’s first Institute of Islamic Economics and Ethics.

UAE Higher Education and Scientific Research Minister and chancellor of HCT Sheikh Nahayan Mabarak Al Nahayan witnessed the signing of the MoU by the representatives of both the organisations.

The institute will give information and raise public awareness on the importance of doing business ethically.

It will also encourage high standards of ethical behaviour in business and give guidance to the employees to achieve that.

It will hold training for business organisations and publish studies about ethical practices and business conduct.

Tayeb Kamali, vice chancellor of the HCT, said: “HCT will work closely with ADIB to establish the institute, which will help meet the increasing demand for specific Islamic banking and finance services in the UAE and the region.

“This new institute will give HCT students the opportunity to learn about ethics in business and also strengthen their understanding and appreciation of cultural issues and ethics, so that they are able to operate effectively in today’s business environment.”

–IANS/WAM