BinDawood Holding Company has become one of the first companies in the Kingdom to receive a compliance certificate from the General Authority for Competition.
The accolade was presented during the launch ceremony of an electronic compliance portal, held under the patronage of Dr. Ahmed bin Abdul Karim Al-Khulaifi, chairman of the GAC’s board, in Riyadh on Dec. 5.
The GAC is a government body responsible for protecting and promoting fair competition and combating anti-competitive and monopolistic practices. The compliance certificate is one of the initiatives of the GAC aimed at supporting the compliance of companies with the competition law and its regulations.
BinDawood’s recognition was announced on June 4, highlighting its commitment to upholding the highest standards of compliance.
Dr. Abdulrazzaq BinDawood, chairman of the board of directors, BinDawood Holding Company, expressed his delight at this recognition from the GAC. He emphasized the significance of the company being among the early recipients of the compliance certificate in the Kingdom. “This recognition from the GAC serves as support and affirmation of the company’s progressive steps in this regard,” BinDawood said.
He reaffirmed BinDawood’s continuous commitment to the highest compliance standards in the implementation of the laws, regulations and instructions. “This honor is a result of the commitment of the company, represented by its board and executive management, to adhering to regulations and supporting any programs, plans, or procedures to ensure full compliance,” he added.
On behalf of the BinDawood Holding Company, Dr. Abdulrazzaq expressed appreciation for the General Authority for Competition’s efforts in enhancing the compliance environment in the Kingdom and implementing best practices.
He commended the authority’s significant efforts in promoting competition among companies and combating monopolistic practices.
