Head of Corporate Finance, Aluraimi Group of Companies
Excerpts from the Interview
How do you keep yourself updated with the changing dynamics?
Gone are those days when you can set and acheive goals without upgrading your techniques and knowledge.Abropt change in the technology and increase in the areas of innovation enables the person to update him/herself as per the organisational objectives to acheive goals.The only way to survive in this high tech and innovative world is to keep getting knowledge and update yourself by participating in the workshops ,seminars and doing professional courses.I belive this is not the individual responsibilty but organisation must provide facilities to their employees by allowing them to participate in the seminars and encourage them to participate in the workshops as well as conducting trainning programs to enhance their skills.
How demanding is the role of a CFO in the present day?
I beleive its not about demanding ,CFO’s role is also challlenging at the same time.It is not everybody’s game to put him/herself to become a CFO.In order to become a CFO one must be professional enough by all means in order to become a good CFO.Not only financial responsibilities ,CFO must carry organisational skills such as operational,leadership and most importantly flexible and fearless purely because CFO is the backbone of any organisation.
What should be the main strength of a CFO?
He should be fearless,flexible and must not worried about job security. The reason of why CFO must not worried about job security is because ,there is always a pressure when financial transcations are involved and most of the times you have to lead from the front especially when financial position of the organistaion is not healthy.Salaries delays,vendors emails and calls for the payments and customers not making payments in time, liquid cash is not enough to meet the day to day expenses is hell of a job.
Is the role of CFO restricted to finance?
Absolutely not,CFOs’ role must not be restricted to finance .infact i beleive a good professional CFO is one who possessed operational ,analystical and leadership skills.His vision must be broader which is possible only if he can have a broder vision.Involving CFO in opertional activities of the organization is very impotant and congenial for the organisation.
Is CFO role experience-based or academics-based?
The likely answer to the question is role should be a mixture of both.See it is very obvious that well qualified person understands his/her role better. A well qualified professional along with expereince added unexpected advantage to the organisation. Those advantages can be in the form of new innovative ideas ,knwoledge,expertise and solution to the problems.
How has the introduction of VAT contributed to the increase in government revenue?
As we all know the best and most significant source of revenue for any Govt is to coolect Tax from its public. Every where around the wolrd Govt always stress on collecting tax so that they can spend the same for the development of the country. Introduction of Tax in U.A.E is a wise move from the U.A E Govt. as it not only generate revenue but also bosst the economy of the country. The simple concept is they collect VAT @5% i.e output minus input, the difference will be collected by the Govt . and ultimately it will be allocated to the development expenditures such as constructing roads,bridges,dams,parks,hospitals etc.