ICAP’s CFO Conference Emphasizes Inclusive Growth and Strategic Business Transformation through collaboration, innovation

Dubai: The Institute of Chartered Accountants of Pakistan (ICAP), through its PAIB Committee, successfully hosted the highly anticipated 4th edition of the CFO Conference Middle East 2024 in Dubai,  featuring key discussions on cutting-edge themes such as AI, ESG standards, regional collaboration, and strategic investment opportunities.

Held under the theme of “Inclusive Growth: Reconfiguring Business Strategies,” the conference brought together more the 400 top financial executives, industry leaders, and policymakers from across the Middle East and South Asia to address evolving economic, technological, and environmental challenges impacting the region’s business landscape.

In her inspiring keynote address on “Women in Finance in the Middle East,” H.E. Aarefa Al Falahi, esteemed Board Member of the RAK Chamber of Commerce and RAK Insurance Company, emphasized the vital role women play in shaping the future of finance in the region. Drawing from her extensive experience, she highlighted the significance of gender diversity and inclusion within the financial sector, noting that empowering women in finance not only drives economic growth but also fosters a more resilient and innovative industry.

Commenting on the importance of collaboration, H.E. Faisal Tirmizi, Pakistan’s Ambassador to the UAE, said, “In today’s interconnected global economy, the partnership between Pakistan and the UAE serves as a pivotal foundation for shared prosperity. By aligning our economic goals and fostering mutual support, we are not only enhancing trade and investment but also creating new avenues for innovation and sustainable growth. Events like ICAP’s CFO Conference help pave the way for resilient, future-ready economies by facilitating critical dialogue and actionable insights.”

Mr. Farrukh Rehman, President of ICAP, expressed his commitment to empowering finance professionals with the insights and tools needed to navigate and excel in today’s rapidly changing business environment. He remarked, “The CFO Conference Middle East 2024 has been an impactful platform for fostering inclusive growth and preparing finance leaders for the future. Through thoughtful dialogue and collaboration, we aim to transform the region’s financial landscape and set a course for sustainable progress.

In his note from the host, Mr. Muhammad Samiullah Siddiqui, Chairman of the PAIB Committee and Council Member of ICAP, welcomed attendees to the conference and expressed gratitude for their participation. He highlighted the importance of collaboration and innovation in finance, encouraging professionals to leverage the insights gained during the event to drive meaningful change within their organizations.

In his compelling presentation, “Net Zero Targets: Are We on Track?”, Mr. Bikash Prasad, President & CFO of Olam Agri, provided a critical assessment of global progress toward achieving net-zero goals. He underscored the urgency for accelerated efforts and shared actionable strategies to help organizations meet their sustainability targets effectively. During the dynamic “Power Tonic” session, entrepreneur and video creator Mr. Khalid Al Ameri invigorated the audience with his insights on creativity and resilience. His engaging presentation inspired attendees to harness innovation and passion as they navigate their professional journeys, fostering a mindset geared towards growth and adaptability. In the insightful presentation “Mastering Business Continuity in Cyber Crisis,” Saad Kaliya, Partner (Technology Consulting & Cyber Risk) at A.F. Fergusons & Co., laid out essential strategies for protecting operations against cyber threats.

The Open Forum Discussion, moderated by Alia Noor, Associate Partner at Ahmad Alagbari Chartered Accountants, focused on strengthening diplomatic and economic synergy between Pakistan and the UAE. Key speakers included H.E. Faisal Tirmizi, and Mr. Ashfaq Yousuf Tola, Vice President of the South Asian Federation of Accountants.

The panel on “Transforming Finance: Strategies for Unlocking the Full Potential of Automation,” moderated by Mr. Ali Abouda, Group CFO of Gulf Navigation Holding, explored strategies for maximizing automation in finance. Panelists Mr. Giovanni Funes Nova (CFO, The Bahri & Mazroei Group), Mr. Hatem Hosny (Group CFO, Paris Group International), and Mr. Muhammad Shafiq (CFO, Bayer Middle East) discussed how automation is reshaping financial processes, enhancing efficiency, and enabling strategic decision-making.

In the panel discussion “Finance in the New World – Embracing Critical Skills to Drive Financial Success,” moderated by Mr. Paolo Monaco, CFO of Al Khayyat Investments, finance leaders shared insights on the essential skills required for today’s financial landscape. Panelists Dr. Ahmed bin Abdullah Almeghames (CEO, SOCPA), Ahmad Ali BinObood (CFO, Dragon Oil Holdings), and Mr. Tamer Abomosalam (Group CFO, Emaratech) discussed strategies for leading teams, adapting to rapid changes, and navigating complex challenges.

The panel discussion “Discovering Hidden Value in ESG Reporting,” moderated by Mr. Bikash Prasad, President & CFO of Olam Agri, explored the strategic benefits of Environmental, Social, and Governance (ESG) reporting. Panelist Ms. Natavan Mammadova, Member of the COP29 Organizing Committee in Baku, highlighted how transparent ESG practices can unlock new business value and drive sustainable growth.

In the panel “Future of Finance in a Challenging and Uncertain Environment,” moderated by Mr. Faisal Saleem Bokhari, Group CFO of Mohamed Yousuf Naghi Group, finance leaders discussed how to navigate an increasingly complex financial landscape. Panelists Mr. Adeel Niazi (Group CFO, Beyond One), Ms. Carol Glynn (Financial Wellness Coach and FinTech Creator), and Mr. Khalilullah Shaikh (Board Member, IFAC) shared insights on managing uncertainty and leveraging adaptability to remain resilient..

The ICAP CFO Conference Middle East 2024 concluded with a commitment to fostering a stronger, more inclusive professional community that promotes growth and resilience across borders. ICAP remains committed to supporting the global finance community by empowering professionals with the skills, knowledge, and networks essential for shaping a sustainable future.