Network International won the Mohammed Bin Rashid Al Maktoum (MRM) Business Innovation Award for its commitment to innovation in business strategy, operations and planning in the past year. The Chairman of Network International, Abdulla Qassem, and Group CEO, Simon Haslam, received the award from HH Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum, Deputy Ruler of Dubai and first Deputy Chairman of Dubai Executive Council at a ceremony held at Madinat Jumeirah, in Dubai.
Initiated in 2005 under the patronage of H.H. Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai, the MRM Business Innovation Award is presented by Dubai Chamber every year to organisations across the GCC, who are focused on establishing new business excellence standards and creating role models for like-minded organisations.
Commenting on the win, Abdulla Qassem, Chairman of Network International, said: “It is an honour to win the prestigious Mohammed bin Rashid Al Maktoum Business Innovation Award, and be recognised by the Dubai Chamber for our commitment to innovation in the payments sector. In the past year, Network International has implemented an innovation-first business model that has allowed us to grow immensely and become a leader in introducing first-to-market payments solutions in the region.”
A core niche within the MRM Excellence Model, the Business Innovation Award allows businesses to single-out innovation and focus on developing key practices and capabilities to harness performance results through innovation. The award aims at recognizing and celebrating the success of companies who are proven to be leaders in the realm of innovation, and celebrates companies whose outstanding practices and achievements in innovation contribute to the development of their economies.
Simon Haslam, Group CEO of Network International said: “The business model of Network International is centred around innovation, and we ensure that innovative practices are applied across all areas of our business. Having aligned our business to the MRM Business Performance Model Framework, we will continue to adhere to the core value of innovation and further that drive using our own successes in the past year as a benchmark.”
Network International is jointly owned by Emirates NBD, one of the largest banking groups in the UAE, and global investment firms Warburg Pincus and General Atlantic. The company acquired Emerging Markets Payments Holdings (EMPH) last year giving it the largest market share for payment processing within the Middle East and Africa region and revenue five times larger than its closest competitor. The firm now serves over 200 banks and more than 70,000 merchants across 70 countries.
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