University of Dubai confirms its second MSI 20000 certification cycle, for the quality of its financial governance
DUBAI, UNITED ARAB EMIRATES - EQS Newsroom - 22 January 2025 - COFICERT announces the renewal of the University of Dubai's MSI 20000 certification for a second consecutive cycle, marking its continuous compliance with the standard requirements.
Late 2020, the University of Dubai undertook an in-depth assessment of its financial governance in accordance with the MSI 20000 Standard, to become the first educational institution in the region to obtain this international certification. The certificate was awarded by the French certification body COFICERT, with the technical support of Talal Abu-Ghazaleh Global (TAG. Global), a technical partner for the MSI 20000 certificate in the Middle East.
At the end of the first 3-year certification cycle, under the leadership of His Excellency, Dr. Eesa Mohammed Al Bastaki, UD has entered a second certification cycle, once again demonstrating its continuous compliance with international financial quality standards, which reflects both the strength and stability of UD, as well as its financial performance and sustained growth over the past few years. Leveraging the MSI 20000 expertise and the renewal of its certification cycle, UD is once more engaging in a process of continuous improvement and refinement of its financial governance through regular evaluation diagnostics, which serve as essential internal management tools.
As a reminder, MSI 20000 is the international standard dedicated to the quality of the financial governance of companies and institutions, regulated by the IGSF (International Group for Sustainable Finance). The standard is a comprehensive measurement and evaluation model of the financial situation that is based on sectorial normative benchmarking, and it focuses on two main aspects, the financial solidity and financial performance.
During a ceremony held at UD's headquarters, in the presence of its Leading Directors, His Excellency Dr. Eesa Mohammed Al Bastaki, President of UD, received the MSI 20000 compliance certificate from an official delegation of COFICERT France, led by its Secretary General, Mr. Cristian Mocanu, and Mr. Souheil Skander CEO of COFICERT MENA region.
'By confirming its compliancy for a second consecutive cycle UD's reinforces its commitment to financial excellence and its rigorous governance and risk management practices. The renewal not only reflects the University's sustained efforts to improve its financial position but also highlights its performance, ensuring long-term sustainability and competitiveness in global markets. As UD continues to demonstrate resilience and growth, this certification strengthens its reputation among different stakeholders, nationally and internationally' stated His Excellency Dr. Eesa Mohammed Al Bastaki, President of UD. His excellence pointed out as well that the certification had consolidated and continues to reinforce the University's exerted efforts in developing and supporting its financial strategies.
For his part, His Excellency Dr. Talal Abu-Ghazaleh, founder and chairman of TAG. Global, expressed his pride in this major achievement for the UD by confirming its continuous conformity to the MSI 20000 standards, allowing UD to renew its certification cycle. This achievement proves the extent of the Arab institutions' commitment to the global best practices, as well as, their keenness on the quality financial performance, financial governance, disclosure, and transparency, stated His Excellency Dr. Talal Abu-Ghazaleh.
Hashtag: #UD #COFICERT
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COFICERT
Posted by : Media Outreach, Jenny Posted on : Thursday, January 23, 2025 11:00:00 AM UAE local time (GMT+4)
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