Zain CEO calls for establishing an UN-like world body for private companies

Al Barrak launched this initiative during his participation in the annual McKinsey Company's Directors Conference which was attended by the Indian Prime Minister Dr. Manmohan Singh and about 300 senior officials from all over the world.

'We do believe that the private sector should play an active and main role in managing the world economic affairs away from political interests and conflicts that usually overwhelm most governmental bodies and organizations around the world,' Al Barrak said during his recent participation in the annual McKinsey Company's Directors Conference in New Delhi.

Asserting the importance of creating a new international entity that unites all major private sector companies, Al Barrak suggested 'The United World Business' (UWB) as a name for the proposed body. He pointed out that its business decisions and activities should be based on noble goals that seek nothing but achieving joint interests rather than monopolistic interests.

Dr Al Barrak went on to indicate that all the actions and activities of the proposed UWB will have to be completely independent from governmental agendas and should not serve governments' regional and international political interests.

'The world economy is now bearing the brunt of the negative influences of political agendas that usually seek to control and influence the decisions of international bodies and organizations, especially in the light of the fact that the governments of major industrialized countries usually seek to impose their own agendas that do not take the interests of the developing countries into consideration,' Al Barrak explained.

'It has become crystal-clear to every body that the 'ship' of the international economy has become in dire need of having its current captain changed if we really want it to continue its journey towards the shores of stability and safety,' Al Barrak added, pointing out that the private sector is capable - with its noble goals - of taking charge of that 'ship', re-draw the map of joint interests and redistribute them fairly among all parties.