Bin Aweidha Group (BAG) was established in 1958. It was established as a fast growing entrepreneurial business organization, and the export of oil from UAE in 1962 improved business environment, facilitated and gave BAG a chance to grow and expand faster.

Today, BAG stands as one of the prominent business organizations in UAE, with business activities ranging from the commercial sector, which appeared in the 1960s, to printing and publishing, distribution and advertisement, oil services, banking and insurance in the 1970s. In the 1980s and the 90s the company expanded further in construction, finance, investment, industrial, travel and tourism and real estate activities, with significant presence in information technology.

On December 2, 1971, the seven emirates became independent as the United Arab Emirates. The President, His Highness Sheikh Zayed Bin Sultan Al Nahyan, has devoted much of his attention in the intervening years to the development of the federation of the United Arab Emirates. Each of the emirates has its own ruler; and they all together comprise the highest body of the federal government, the Supreme Council of Rulers. The council elects from its members a president and vice president. A Prime Minister and a 40 member consultative assembly called the Federal National Council also governs the federation.

The population of the UAE grew rapidly in the 1970s, 1980s and 1990s. The population is estimated to be about three millions. Growth at present is 6.5 percent per year. This is expected however to slow down to 2.9 percent by the year 2005, when the population will number approximately 3.48 millions. The country’s religion is Islam and official spoken language is Arabic, although English is widely spoken.

BAG & United Arab Emirates; Historical Background

The name of BIN AWEIDHA GROUP dates back to 1958 after the first commercial delegation left the Emirate of Abu Dhabi for Britain (before establishment of the United Arab Emirates). His Excellency Rashid Bin Aweidha was one of the leading members of the delegation in his capacity as one of the pioneer businessmen of the Emirate who had extensive international relations.

That is before the emergence of UAE’s as a Federal State. On July 18, 1971, rulers of six emirates from those known as the Trucial Coast states, ratified the provisional constitution of the UAE. A product of more than three years of discussion and debate among the rulers, the document was promulgated on December 2, 1971, on the UAE’s independence. (Ras al Khaymah joined the union in February 1972.)

The provisional constitution of the UAE provides for the separation of powers into executive, legislative, and judicial branches. Additionally, it separates legislative and executive powers into federal and emirate jurisdictions. Certain powers are expressly reserved for the central government, including foreign policy, defense, security, immigration, and communications. The individual emirates exercise residual powers.

BAG is well-established business organization, and it is one of the leading Groups in UAE. It has a large-scale contribution in the establishment of UAE and has put its fingerprints in all parts of the country doing business in several areas.

BAG started operation at a time when the UAE was in need of investment companies to participate in the development of the country and to enhance the welfare standard of the population, before UAE started to export petrol in the 1962. The Group found itself under these circumstances obligated to invest in different economic fields in order to participate in building the economy of UAE in particular and the economy of the Middle East countries in general.

His Excellency Rashid Bin Aweidha Al Qubaisi is the full name of the Group founder who is a member of the Qubaisi family, which has a wide influence in the UAE, as many of the distinguished persons in the country belong to this family such as, the President of Abu Dhabi Municipality, the ex- minister of Information and other prominent statesmen. His Excellency Rashid Bin Aweidha is one of those men who had a remarkable influence in the history of the UAE as he was, before the establishment of the State and after its establishment, one of the prominent politicians and businessmen who accompanied the President of the UAE and the Crown Prince in their various visits to most countries of the world and in attending meetings and international economic, commercial and political conferences.