Riyadh, May 23rd 2011 - The 2ndAnnual CFO Strategies Forum Saudi Arabia commenced today, with over 100 Chief Financial Officers gathering in Riyadh.

This two-day platform features workshops, panel discussions and keynote speeches focused on the current financial climate - and how companies across the region are reviewing their business practices to ensure they are safeguarded for the future.

The highlight of day one was a presentation delivered by Acting Chief Financial Officer and Corporate Controller of Saudi Electricity Company, Osama Khawandana. Entitled 'Future role of a finance professional' it emphasised how global business is changing - and how greater management and financial accountability is critical for future success.

According to a 2010 IFC-World Bank report, since 2003 growth in Saudi Arabia has outpaced the West. The Kingdom is now rated as the 13th most economically competitive country in the world - and one of the reasons cited is sound investment and financial management.

Mr. Khawandanah also spoke about Saudi Electricity Company's current finance initiative, which was formulated in response to the changing economic conditions. He explained how they have embraced the connection between strategy, financial performance and risk management - and that more sophisticated financial analysis is also proving beneficial.

The summit is hosted by leading business information company naseba, who since 2002 has organised over 400 events for more than 50,000 executive delegates globally.

"Post-recession economic growth has forced CFOs to rethink their current business model and take advantage by focusing their management on new opportunities. This year's CFO Strategies Forum takes a realistic look at the economy - and offers insights, strategies, case studies, in-depth discussions and practical examples to help rise above the challenges." commented naseba CXO Series Director - Mohammed Saleem.

-Ends- 

About Osama Khawandanah
Osama Khawandanahis the Chief Financial Officer (Acting) and Corporate Controller of Saudi Electricity Company and the Board Member of Dhuruma Electricity Company. He has nearly three decades of financial experience in the electricity industry and in public practice. He was involved in the merger of regional companies that established the Saudi Electricity Company and has been a key contributor to the IPP Program for significant investment in Kingdom's electricity generating capacity. He has developed financial decision-making model to guide investment and has been driving application of international accounting standards, wherever appropriate. Osama has also been leading his team for structuring contracts between SEC Group subsidiaries and is also responsible for Risk management, treasury, and banking.

He holds Bachelor of Science (Accounting) from San Diego State University, San Diego, CA and Master of Science (Accounting) from Ball State University, Muncie, IN

About naseba
naseba produces, promotes and hosts business summits, professional training courses and business exhibitions targeting executive level attendees across multiple industries. Each event is focused on re-education, networking and creating a deal-flow platform for all participating organisations. Whether it is raising capital, expanding to a new market, vendor sales contracts or sourcing a strategic partner, naseba facilitates and supports clients' business development.

Our team of experts conducts extensive research in conjunction with recognised thought leaders to ensure that all events are relevant, timely and at the forefront of market and industry trends.

naseba collaborates with leading media, industry and local authorities, such as International Data Corporation (IDC), International Business Consultancy Group (IBCG), Saudi Trading and Resources Co. Ltd. (STAR Group Holdings), HIL International Lawyers & Advisers (HIL), International Herald Tribune, CNBC Arabia, Zawya, Council of Saudi Chambers, Asharqia Chamber, Abu Dhabi Health Authority, Ministry of Health - UAE, Ministry of Economy - UAE, Ministry of Environment and Water - UAE, Egyptian Ministry of Civil Aviation, Qatar Civil Aviation Authority, Ministry of Municipality and Urban Planning - Qatar, Privatization and Investment Board (PIB) - Libya, Principality of Monaco, Singapore Tourism Board, Malaysia Airports Holding Berhad, Department of Civil Aviation - Malaysia and many others.

Since its inception in France in 2002, naseba has organised over 400 events and played host to 58,000 executive delegates globally. Operating from four strategically located offices, naseba has on-the-ground presence in Monaco, Cairo, Riyadh, Dubai, Bangalore and Kuala Lumpur.

For more information on naseba, please visit www.naseba.com

For more information, please contact:
Vijayraj Amin - Project Manager
Email:vijay@nasebagroup.com

Media contacts:
Madhukar Dudda - Marketing Manager
Email:madhukard@naseba.com
Tel: +971 4 367 1383
Website: www.cfosaudi.com

© Press Release 2011