Heriot - Watt University Crowned CIMA Middle East 2014 Global Business Challenge Champions

Dubai, 17 June 2014: Team Watt Consultancy from the Heriot-Watt University have triumphed in the Middle East final of the CIMA (Chartered Institute of Management Accountants) 2014 Global Business Challenge, held in partnership with Barclays.

Heriot-Watt will now represent the Middle East at the global final in Mumbai, India, from 4 - 7 August. CIMA's Global Business Challenge is an international business management competition designed to showcase the very best in the next generation of business leaders. To reach the final, students analyzed a real life CIMA business case scenario and present innovative solutions.

This year, over 80 teams in the Middle East registered for the competition, with Heriot-Watt becoming the Middle East champions and securing a place at the global final. The teams were judged on their business acumen, presentation skills, and responses to the judges' questions.

Furthermore, Team Innovation from Middlesex University were awarded and recognized as the 1st runner up. Ms. Kanchan Khemani from Watt Consultancy, Heriot-Watt University Dubai Campus was acknowledged as the Global Business Challenge's best speaker.

Prominent and esteemed industry professionals were part of the competition. The five judges included Mr. Subir K Saha, CFO MENA at Barclays, Mr. George Riding, CFO at SAP MENA, Hasan Al Sharaf, VP Finance at BMMI, Georgina O' Hara, COO at one of the largest publishing houses in the Middle East, as well as Mr. Ralph Khoury CFO at leading advertising agency TBWA/RAAD.

Geetu Ahuja, Head of GCC at CIMA, said:

"The CIMA Middle East Office is very proud of Heriot-Watt's achievement in winning the regional round of the 2014 CIMA Global Business Challenge. Team Watt Consultancy presented a superb case and their place in the global final is thoroughly deserved. The standard of this year's competition was higher than ever and the students are well on their way to becoming tomorrow's high flyers."

George Riding, Chief Financial Officer, at SAP Middle East and North Africa, added:

"As the Regional Partner for CIMA's Global Business Challenge, we congratulate the winning team and wish them best of luck in the finals, demonstrating the high potential of young talent in the Middle East and North Africa. Unlocking this talent is key to SAP bringing its innovative solutions to life in the region and we are committed to continuing to drive initiatives and partnerships to achieve this aim."

CIMA will fly Team Watt Consultancy to the global final, where they will compete against teams from

23 other countries. The participating countries are: Australia, Bangladesh, China, Ghana, Hong Kong, India, Indonesia, Ireland, Malaysia, GCC, Myanmar, Nepal, New Zealand, Pakistan, Philippines, Poland, Russia, Singapore, South Africa, Sri Lanka, Thailand, United Kingdom, Vietnam and Zambia.

Once they arrive at the final the teams will battle it out to become the 'Global Champion' by presenting a business case to an audience of CIMA delegates and a judging panel of renowned business experts. CIMA trains business leaders and currently has over 218,000 members and students in 177 countries.

Follow the Global Business Challenge experience and support the Middle East team on Facebook. Students can share pictures, upload videos and get involved in discussions www.cimaglobal.com/gbcfacebook.

Good luck Team Watt Consultancy.

For press enquiries please contact:
Priscilla Stanley
Ketchum Raad Middle East
T: + 971 (0)4 425 8888
E. priscilla.stanley@ketchum-raad.com

The Chartered Institute of Management Accountants (CIMA), founded in 1919, is the world's leading and largest professional body of management accountants, with over 218,000 members and students operating in 177 countries, working at the heart of business. CIMA members and students work in industry, commerce, the public sector and not-for-profit organisations. CIMA works closely with employers and sponsors leading-edge research, constantly updating its qualification, professional experience requirements and continuing professional development to ensure it remains the employers' choice when recruiting financially-trained business leaders.

Professionalism and ethics are at the core of CIMA's activities with every member and student bound by robust standards so that integrity, expertise and vision are brought together.

CIMA has formed a joint venture with the American Institute of CPAs (AICPA) to establish the Chartered Global Management Accountant (CGMA) designation. CGMA is the global quality standard that further elevates the profession of management accounting. The designation recognises the most talented and committed management accountants with the discipline and skill to drive strong business performance.

CIMA is proud to be the first professional accounting body to offer a truly global product in the fast-moving area of Islamic Finance.

For more information about CIMA, please visit www.cimaglobal.com