Dubai: 26 February, 2008 - Mohammed bin Rashid Al Maktoum Foundation announced today signing a memorandum of understanding (MoU) with Al Obekan Publishers and Booksellers of Saudi Arabia to translate and publish a collection of bestsellers in various fields of knowledge with a special focus on management development titles. The first phase of the translation project will be completed by end April 2008.

The MoU was signed in Dubai by Yasser Hareb, Vice President for Culture, Mohammed bin Rashid Al Maktoum Foundation, and Mohammed Abdul Rahman     Al Obeikan, CEO of Al Obeikan Publishers and Booksellers.

In line with the Foundation’s strategy to partner with leading regional publishers for reviving the translation industry in the Arab world, the agreement comes as part of its ‘Tarjem’ programme that seeks to translate 365 books annually, targeting a total of 1,000 books in three years. Fifty per cent of the works to be translated in 2008 under the Tarjem programme will include topics on management development and corporate excellence.

Mohammed Abdul Rahman Al Obeikan praised the Foundation’s efforts to pioneer a positive change in the region. He said: “We are glad to join hands with the Foundation in its pursuit of knowledge generation and promoting inter-cultural dialogue in the Arab world. Together, we will endeavour to release international bestsellers to Arab readers.”

Underlining the extensive industry expertise of Al Obeikan Publishers, Yasser Hareb applauded the Saudi publisher’s role in driving intellectual output across the region.

He said: “Al Obeikan has developed in-depth knowledge of the region’s requirements in furthering cultural development. Its expertise will foster our efforts and ensure high quality translation of noted titles in management excellence.

“Translation is an important channel for knowledge transfer and we will pursue this avenue to enhance development opportunities across the Arab world.”

Al Obeikan Publishers and Booksellers, a member of Al Obeikan Investment Group, boasts one of the region’s largest bookshops with more than 100,000 titles. Over 750 titles out of the 3,000 books published by Al Obeikan are translated from various languages. The leading Saudi company aims to widen the scope of its titles to satisfy the growing quest of Arab readers for supplementary learning in diverse knowledge areas.