Jeddah:  BinDawood Holding Company has announced its distinguished recognition by the General Authority for Competition, receiving an Honorary Shield for being one of first companies obtaining a Compliance Certificate in the Kingdom of Saudi Arabia. The accolade was presented during the launch ceremony of the electronic compliance portal held in Riyadh under the patronage of His Excellency, Dr. Ahmed bin Abdul Karim Al-Khulaifi, Chairman of the Authority’s Board of Directors, on Tuesday, December 5th, in Riyadh.
 
The Compliance Certificate is one of the initiatives of the General Authority for Competition aimed at supporting the compliance of companies aligning with the Competition Law and its implementing regulations. BinDawood Holding Company received this esteemed certificate on June 4, 2023, highlighting its commitment to upholding the highest standards of compliance. 
 
Dr. Abdulrazzaq BinDawood, Chairman of the Board of Directors in BinDawood Holding Company, expressed his delight at this recognition from the General Authority for Competition. He emphasized the significance of the company being among the early recipients of the Compliance Certificate in the Kingdom of Saudi Arabia. He highlighted that this recognition from the Authority serves as support and affirmation of the company's progressive steps in this regard.
 
 
Dr. Abdulrazzaq reaffirmed BinDawood Holding Company's continuous commitment to implementing the highest Compliance standards to the laws, regulations and instructions. He pointed out that this Honoring is a result of the company's commitment, represented by its board and Executive Management, to adhere to regulations and support any programs, plans, or procedures to ensure full compliance.
 
On behalf BinDawood Holding Company, Dr. Abdulrazzaq extended gratitude to the General Authority for Competition for its 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.