IMA Middle East Conference Highlights

#NextGenFinance

Dubai, UAE, May 21, 2014

IMA® (Institute of Management Accountants) hosted recently its third Middle East conference, The Next Generation Finance Leaders, dedicated to the region's corporate finance sector.

For two days, May 14 -15, the conference provided a forum for nearly two hundred finance management professionals, to present key research findings and insights, and discuss critical factors that impact the landscape of today's corporate finance world and the role of finance professionals, such as the emergence and use of new technologies, the increasing demand for insight-driven real-time data, and a widening of responsibilities for the next-generation finance leaders.

"The theme of the third IMA regional conference, The Next Generation Finance Leaders, was very well received. It sparked important conversations and debates on the ongoing development of the profession, from management accountants to CFOs, and examined some of the challenges and opportunities ahead", said Hanady Khalife, Director of Operations, Middle East and Africa, IMA.

"As we charge into the future, there's a lot to prepare for, learn and innovate. The remarkable line-up of partners, speakers and panelists who joined the conference was a true reflection of the wide range of issues impacting the development of the corporate finance world in the near future," added Khalife.

Joe Vincent, CMA, Chair of Global Board of Directors, Institute of Management Accountants (IMA) set the agenda for the conference with a thought-provoking talk on 'Digital Darwinism - The Shifting Business Landscape', in which he characterized the digital age as "the end of business as we know it", and examined how the new forces of creative destruction, such as mobile, big data, educational and social technologies, cloud and payment systems are shaping new economies and new business paradigms.

Dr. Fahd Al Turki, Chief Economist and Head of Research, at Jadwa Investment offered a snapshot of the region's economic outlook, in which he addressed long term strategies such as economic diversification, and factors such as the oil price fluctuations and its mixed effects upon the wider region.

The conference program was packed with presentations, discussions and workshops that addressed the wide array of issues relevant to finance professionals, such as 'Planning and Performance Management' by Amir Saeed, Downstream Planning and Performance Management Group Lead, Aramco; 'Revenue Recognition - Are You Ready?' by Paul Raftery, Senior Vice President Finance and Corporate Affairs Group, Mubadala; 'What Does it Take to Become a CFO', by Saleem Sufi, Founder, MECA CFO Alliance; Workforce Planning Strategies to Support Organizational Needs' by Brad Boyson, Executive Director, SHRM; and 'The CMA Exam: Strategies for Success' by Dennis Whitney, CMA, CFM, CAE, Senior Vice President, IMA.

The panel dedicated to 'The Role of CFOs in Family Businesses', which was moderated by Loutfi Echhade, EY's Family Business Center of Excellence, MENA region, was particularly welcomed.   The participants - Fadi Atallah, Chief Finance and Investment Officer, Al Ghurair Group, Tarek Amer, Group CFO Energy Care Holding, and Hassan A. Sharafeddin, Chief Executive Officer of Abnia, Danway Industries and Danway Fusion Glass - shared their insights into the most critical issue facing family businesses in the Middle East which is generational change, and discussed how their input as skilled finance professionals can impact positively, by lobbying for and establishing sound governance and operational structures in family businesses.

The conference ended with a student competition, which drew participation from 23 universities from around the Middle East. Four teams from the UAE and Egypt competed in the finals, showcasing their knowledge in front of a jury of industry experts. After the jury deliberation, the teams from Middlesex University Dubai and HCT-Dubai Women's College were chosen as the winner and the runner-up and received cash prizes of $3,000 and $2,000 respectively.

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About IMA® (Institute of Management Accountants)
IMA®, the association of accountants and financial professionals in business, is one of the largest and most respected associations focused exclusively on advancing the management accounting profession. Globally, IMA supports the profession through research, the CMA® (Certified Management Accountant) program, continuing education, networking and advocacy of the highest ethical business practices. IMA has a global network of more than 75,000 members in 140 countries and 300 professional and student chapters. Headquartered in Montvale, N.J., USA, IMA provides localized services through its four global regions: The Americas, Asia/Pacific, Europe, and Middle East/Africa.

For more information about IMA, please visit www.imanet.org.

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© Press Release 2015