Bani Yas Cooperative Society (BCS) is an unlisted public limited company incorporated in the emirate of Abu Dhabi in the year 1980. The incorporation of BCS was done through a special decree issued by the UAE government. BCS is 100 per cent owned by the UAE nationals and its main business is retail and real estate. The BCS is running two supermarkets on the international standards of modern retailing and has leased out more than 300 shops to different companies and individuals involved in various types of businesses.
BCS is working on the principle of providing quality service to its customers. In this regard, it has recently been awarded the two ISO certificates, i.e. ISO 9001:2008 (Quality Management System) and ISO 22000:2005 (Food Safety Management System). BCS is doing the business with the aim of achieving the customer’s satisfaction for which most of the strategic and fast-moving items are being sold at a very low margin. BCS also runs the monthly promotions for its customers wherein the most famous brand products are offered on further discounts.
BCS believes in fair and healthy business relations with the suppliers. In this regard, terms and conditions are finalized with them in such a way that benefits both the parties. They are also invited to participate in the monthly promotions with the aim to brand their products and grow their sales through special offers. BCS also ensure that the suppliers are paid on time as per the agreement. BCS is also taking care to fulfil the necessary needs of its tenants and is ensuring that all the facilities needed by the tenants to do the business are provided to them.
The schedule of rent payment set by the BCS for the tenants is according to the company’s policy and the norms of the business which always suited to their cash flow from their operations. BCS has the belief to hire the most competent staff to carry out its operations. In order to fulfil this condition, staffs are hired after proper verification of their particulars, skills and experience. BCS also believes to invest in the professional development and training of the employees on a regular basis and to treat them as the main asset of the Society.
The BCS has implemented strict internal control procedures to ensure that the operations are being carried out in accordance with the policies and the standards that are designed nationally and internationally for the fair business. In this regard, the duties and responsibilities are properly segregated and are monitored and supervised by highly professional and experienced management. The shareholders of the BCS, who are also the owners of the company, are paid every year the best return on their investment in the form of a dividend. The yearly payout of dividend and the breakup value of one share of a company are increasing year by year.
The BCS is also involved actively in the community help services and is fully aware of its social responsibilities. Every year, BCS is taking part in the charitable contributions and is giving significant donations out of its profits to different schools and other charitable institutions. Apart from this, BCS is also involved in the care for the environment and is using only the Biodegradable shopping bags. These bags are less destructive to the environment than the typical bags made from the plastics.