has announced the promotion of Abdul Razzaq Al Balushi to Chief Financial Officer. He takes over from Jorgen Latte, who has retired as 1 February 2017 as CFO. In his new post, Abdul Razzaq will have overall responsibility for managing the Finance function, which will involve strategic finance, budgeting and planning, revenue assurance, business control, accounts and financial control, investor relations, procurement contracts and supply chain. He will also be responsible for developing strategies for sustainable value creation and also risk management in relation to setting and achieving organisational objectives.
Abdul Razzaq formerly served as the company's Deputy Chief Financial Officer and has more than 25 years of experience working in a wide variety of managerial positions in corporate planning, strategy, finance, banking, and risk management. Prior to joining Ooredoo, he worked with Oman Trading International Operations in the UAE, HSBC, Oman LNG LLC, Oman Shipping Company SAOG and Aldersgate Partners.
Abdul Razzaq is a graduate of Strathclyde University UK, and the College of Banking and Financial Studies Oman with a Masters of Business Administration, Abdul Razzaq is also a Certified Treasury & Finance Professional and holds Certificates in Accounts, Banking & Trade.
His appointment reflects Ooredoo's dedication to grow talent within the company and provide them with opportunities to thrive. Through its Omanisation programme, Ooredoo has dedicated resources towards the recruitment, retention and development of talented Omanis to help fulfil their professional aspirations and contribute to the growth of the Sultanate. Today, Ooredoo has an Omanisation rate of over 90%, with highly qualified and experienced Omanis working at every level within the company.