The Omzest Group under the guidance of His Excellency Dr. Omar Zawawi has taken one more initiative in the field of promoting education and training in Oman. The Group has commenced the process of setting up an Institute of Cost and Management Accountants in Oman, in association with The Institute of Cost and Works Accountants of India (ICWAI). This institute will work towards promoting and propagating the profession of cost and management accountancy in Oman.
The Memorandum of Understanding (MOU) was signed by Mr. Kunal Banerjee, President, ICWAI on behalf of ICWAI and Mr. K. S. Cheema, Executive Director, Omzest Group on behalf of Omzest Group on 15th November 2008 in Hyderabad, India. The MOU was signed in the presence of Shri Jitesh Khosla, Joint Secretary, Ministry of Corporate Affairs, Government of India, Shri B. B. Goyal, Adviser Cost, Ministry of Corporate Affairs, Government of India, Adviser-SAFA and other dignitaries during the Silver Jubilee celebrations of The South Asian Federation of Accountants (SAFA), an apex body of accountants under the SAARC.
According to Mr. Kunal Banerjee, President, ICWAI, "The Global Summit of Management Accountants held in January 2008 in Delhi gave a fillip to the efforts of ICWAI to go beyond the country and make its presence felt as a driving force of management accounting profession in the global arena. As a continuum of this process, it is co-promoting a new management accounting body in the Sultanate of Oman. The progressive policies of the Sultanate of Oman are creating conducive conditions for a steady economic development and as the commercial activities expand, Oman's economy will be in need of highly skilled management accountants to support the needs of strategy, management and accounting. To this effect, the ICWAI is entering into a Memorandum of Understanding with the Omar Zawawi Establishment LLC, one of the premier and most diversified groups in the Sultanate."
In terms of this MOU, ICWAI will technically guide Omzest in developing the syllabus relevant for Oman's economy and help them in conducting the examinations periodically. The main objective of this institute would be to prepare young Omani citizens and expatriates to take up challenging roles in the field of cost and works accountancy and be employed gainfully.
In addition to various commercial and industrial activities, the Omzest Group has always been very active in the field of education and training. It established the first school in Oman. Omzest also established the Waljat Colleges of Applied Sciences in Oman in collaboration with The Birla Institute of Technology, India where more than 1600 students now study. On the commercial front, Omzest has made forays into multiple state of the art projects and is all set to play a pivotal role in the overall growth of the national economy, where trained and educated youngsters would be employed.
H.E. Dr Zawawi's visionary leadership has led the group to be credited with a number of firsts in the Sultanate of Oman. The first school and hospital complex, Oman International Services, the precursor to Oman Aviation; the first colour TV station; the 1st 100% Omani owned bank - Oman International Bank, joint venture with Overseas Trust Bank of Hong Kong and Singapore to form the Oman Overseas Trust Bank, which was later renamed Bank Muscat to name a few.
And today, with over 75 wholly owned and associate companies, varied business activities and exports to 90 countries worldwide, the Omzest Group endeavours to contribute to the overall growth of the nation.
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© Press Release 2008
