Abu Dhabi - The Abu Dhabi Quality and
Conformity Council (QCC) was awarded the financial quality certificate MSI
20000, the global standard allocated to companies' financial governance, making
it the first governmental organization operating in the conformity assessment sector in theMiddle
East to obtain                  this certification.

The QCC, is the
government entity that contributes to the improvement of the quality of Abu
Dhabi's exports and products marketed locally, that has a mandate to ensure
provision of quality infrastructure in line with global standards.

The certificate was awarded by the French
certification body COFICERT, international leader of financial
and extra-financial certifications, with the technical support of
Talal Abu-Ghazaleh & Co. Consulting (TAG-Consult) in its capacity as the
exclusive partner for the MSI 20000 standard in  the Middle East. The MSI 20000 standard is a comprehensive measurement and evaluation model of
financial governance based on sectorial normative standardization and its
focuses on two main areas: financial solidity and financial performance.
Globally recognized as a reliable tool, the standard MSI 20000 constitutes
a valuation instrument for its beneficiaries and provides a strong differentiation argument in the market for those institutions aiming
to enhance their presence within global markets.

QCC was awarded the certificate during a
ceremony held under the patronage of His Excellency Hilal Humaid Al
Kaabi, Secretary General of QCC, in the presence of Mr. Abdulrahman Al
Balooshi Financial Director of QCC, Mr. Maher Khader, Regional
Executive Director of Talal Abu-Ghazaleh Consulting, Mr. Cristian MOCANU
Secretary General of COFICERT and Souheil Iskander Managing Director of
CFC Partners. 

The conclusions of the financial
diagnosis, following a comprehensive evaluation of its financial governance
over the last five years according to the MSI 20000 standard, demonstrated
outstanding results for Abu Dhabi Quality and Conformity Council (QCC). Indeed,
the ADQCC outperformed the conformity assessment sector’ standards on a global
scale, especially in terms of commercial and economic efficiency. Moreover, the
MSI 20000 evaluation revealed the compliance of QCC in terms of solidity across
several criteria, particularly regarding its excellent liability management, as
well as the conformity of its liquidity and its risk management procedures when
compared      with the MSI 20000
normative reference ratio levels.

Commenting on this achievement, Mr.
Abdulrahman Al Balooshi, CFO - QCC, said: “We are proud to be the first
organization operating in the conformity assessment sector in the Middle East,
to have achieved the MSI 20000 financial quality certification. Good
financial governance and control of our indicators are essential points for
ADQCC and at the heart of our strategy. This certification, obtained in a
context of a number of global crises, reflects the QCC’s robustness and the
excellent financial governance of our Organization, as well as its
commitment to best global practices and to the continuous improvement. It is
the result of in-depth work carried out by the financial teams, which reinforces our attractiveness to all our stakeholders: partners, government, customers, employees
etc.”

AD QCC 

Abu Dhabi Quality and Conformity Council (QCC) is a government entity pursuant to Local Law No. (3) of 2009 to improve
the quality of Abu Dhabi exports and products marketed locally. Founded in
February 2011,
QCC consists of a board of regulators and industry with amandate to ensure the provision of quality infrastructure that meets global standards.

Find all the information
on QCC at: https://qcc.gov.ae/fr

TALAL ABU-GHAZALEH & CO. CONSULTING (TAG-CONSULT)

TAG-Consult operates out
of the Talal Abu-Ghazaleh Global offices, which has more than 100 offices in
the Middle East, Africa, and the world and representative offices spread in
Asia, Europe, North America, and Latin America. It also operates through a
network of experts and specialists to offer the best management consulting
services to local and international companies and institutions, in accordance
with the best practices in this field.

COFICERT

COFICERT is a french certification body
COFICERT, international leader of financial and extra-financial certification.
The organization gathers national and international experts around standards
and certification, related to Finance: such as financial governance, (MSI
20000), anti-money laundry and counter financing of terrorism (AML 30000),
corporate social responsibility (ESG 1000) and corruption (ISO 37001).

MSI 20000

MSI 20000 is the international standard
dedicated to the evaluation of the companies’ financial
governance, through a sectorial approach and strict principles, based on
many evaluation criteria and performance indicators using normative
reference ratios. The standard was developed in 2008, in the aftermath of
the subprime crises, by the French, non-government organization MSI
Observatory, by top leading experts in the
field of finance. It is since adopted and distributed by the top leading actors of the certification industry and currently distributed in close to 50countries.