Arthur D. Little appointed to support new award for ethical business excellence in Saudi Arabia

The SAAFAH awards were established to promote and increase awareness about corporate social responsibility, transparency, and accountability in everyday business practice throughout the Kingdom.

By rewarding both private and public sector businesses for excellence in ethical business, the SAAFAH award programme aims to showcase the best of responsible business practices emerging from Saudi industry each year; providing role models for others to follow.

At the initial stage, The SAAFAH Award will be presented to one outstanding company each year during Ramadan, this year starting on September 1st.

Each winner is eligible to receive an accompanying cash award; which will be presented to any licensed charitable foundation designated by the winner.

Leading global management consultancy Arthur D. Little will be responsible for developing the award programme and providing the appropriate governance and executive support.

Consultants within ADL will initiate the first round of applications, help alert short-listed businesses, and collate information about finalists to help judges determine the overall winner.

The consultancy was chosen for its expertise in global CSR initiatives as well as its familiarity with the regional business community.

HH Prince Turki bin Abdullah bin Abdulrahman, who conceptualized the award, said: "The basic purpose of the award is to encourage, honour and highlight the role of those organisations and institutions whose exemplary behaviour acts as a role model for fairness, accountability, transparency and integrity." He added, "Given its rich experience in global consulting and in the Middle East and with specific experience in this domain, Arthur D. Little is well qualified to help support us in our endeavour. ADL will also ensure that the award process is carried out in a transparent manner."

Commenting on the expected impact of the award, Ralf Baron, Director of Arthur D. Little, said, "Encouraging ethical behaviour enhances the overall performance of the larger business community. Applying ethical principles to our daily business interactions reduces the complexity of our transactions, leads to growth and will positively influence exchange and cooperation for the benefit of all stakeholders. The SAAFAH Award will establish and celebrate sources of best practice in ethical business throughout the Kingdom."

Thomas Kuruvilla, Managing Director of Arthur D Little in the Middle East added, "ADL has been working with HH Prince Turki bin Abdullah bin Abdulrahman on other initiatives and are now honoured to be supporting this project. ADL is involved in many engagements in Saudi Arabia that require attracting international expertise and investment - and this initiative will surely contribute towards building a positive image of the Kingdom and its business community to the rest of the world."