UAE-Pakistan synergy takes centre stage at ICAP CFO Conference 2024 in Dubai
Finance leaders unite to forge new pathways for shared prosperity
DUBAI: The Institute of Chartered Accountants of Pakistan (ICAP) successfully hosted the 4th edition of the CFO Conference Middle East 2024 in UAE, bringing together over 400 finance leaders, industry experts, and policymakers.
Held under the theme “Inclusive Growth: Reconfiguring Business Strategies”, the conference centred around evolving strategies for economic, technological, and environmental challenges facing the region’s financial sector.
Dubai, renowned as a hub for regional finance, provided an ideal venue for discussions on how collaboration, technological innovation, and regional partnerships could drive inclusive and sustainable growth.
Why the UAE and Dubai?
The UAE’s role as a strategic economic centre was underscored by the presence of Pakistan’s Ambassador to the UAE, Faisal Niaz Tirmizi, who commented on the critical importance of Pakistan-UAE relations. “In today’s interconnected global economy, the partnership between Pakistan and the UAE serves as a pivotal foundation for shared prosperity,” he said.
“By aligning our economic goals and fostering mutual support, we are not only enhancing trade and investment but also creating new avenues for innovation and sustainable growth. Events like ICAP’s CFO Conference help pave the way for resilient, future-ready economies by facilitating critical dialogue and actionable insights,” he added.
The conference tackled key themes such as Artificial Intelligence (AI), Environmental, Social, and Governance (ESG) standards, automation, and regional economic integration, aiming to offer participants insights into navigating the future of finance.
What were the key sessions?
A variety of high-impact sessions were held, with notable speakers presenting on key aspects of finance and strategic growth. Aarefa Al Falahi, Board Member of the RAK Chamber of Commerce and RAK Insurance Company, delivered a keynote titled “Women in Finance in the Middle East”.
In her address, she highlighted the importance of gender diversity, stating that empowering women in finance not only fosters economic growth but also strengthens the industry’s resilience and innovation.
The conference’s Open Forum Discussion, moderated by Alia Noor, Associate Partner at Ahmad Alagbari Chartered Accountants, featured a robust dialogue on enhancing economic ties between Pakistan and the UAE. This session included Faisal Tirmizi and Mr. Ashfaq Yousuf Tola, Vice President of the South Asian Federation of Accountants, among other experts, underscoring the benefits of strong diplomatic and economic synergy for both countries.
How technology and automation are reshaping finance
The panel discussion, “Transforming Finance: Strategies for Unlocking the Full Potential of Automation”, moderated by Ali Abouda, Group CFO of Gulf Navigation Holding, explored how automation can streamline financial processes and enhance strategic decision-making. The session featured finance leaders such as Giovanni Funes Nova of The Bahri & Mazroei Group and Hatem Hosny of Paris Group International, who shared insights on how automation is driving efficiency and allowing finance professionals to focus on high-value tasks.
In an engaging session titled “Power Tonic”, popular entrepreneur and video creator Khalid Al Ameri inspired attendees with his presentation on resilience and creativity. Al Ameri’s talk focused on the power of innovation and passion, encouraging finance professionals to approach their roles with an adaptable, forward-looking mindset.
Why ESG matters in today’s financial landscape
The theme of sustainability was further explored in the session “Discovering Hidden Value in ESG Reporting”, moderated by Bikash Prasad, President & CFO of Olam Agri.
Panellist Natavan Mammadova from the COP29 Organising Committee highlighted how transparent ESG practices can unlock business value and support sustainable growth, stressing the importance of ESG compliance as a driver of trust and value in the marketplace.
The pressing topic of sustainability was addressed again in Prasad’s presentation, “Net Zero Targets: Are We on Track?”, where he assessed global progress toward net-zero emissions and offered actionable strategies for organisations to meet sustainability goals.
What did ICAP’s leaders highlight?
ICAP’s President, Farrukh Rehman, underscored the conference’s success as a forum for fostering growth and preparing finance leaders for the future. He remarked, “The CFO Conference Middle East 2024 has been an impactful platform for fostering inclusive growth and preparing finance leaders for the future. Through thoughtful dialogue and collaboration, we aim to transform the region’s financial landscape and set a course for sustainable progress.”
In his remarks, Muhammad Samiullah Siddiqui, Chairman of the PAIB Committee, expressed gratitude to participants, highlighting the importance of collaboration and innovation as essential for driving meaningful change.
Moving forward
The ICAP CFO Conference Middle East 2024 concluded with a renewed commitment to fostering a collaborative, resilient financial community across the Middle East and South Asia. With ongoing initiatives and future events, ICAP remains dedicated to empowering finance professionals with the insights and tools they need to shape a sustainable and inclusive future for the global finance industry.