Born of one man's vision, enterprise and drive, the BinAweidha group of companies had a modest start in the year 1958. After the passage of half a century, Mr. Rashid Bin Aweidha Al Qubaisi, founder and chairman, still remains the guiding light and inspirational force behind the organization's phenomenal success.
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.
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.