On Thursday, 12th March 2015 a special training was held for Senior Finance staff of the Ali Bin Ali Group. The training focused on International Financial Reporting Standards (“IFRS”) .
The training is part of the year long finance academy and provided an excellent opportunity to the senior finance people to upgrade their knowledge base in line with developments happening in IFRS.
A total of 14 participants attended the event comprising of mostly Finance Managers and Chief Accountants. The training took place at the HR Training Room on the 9th Floor of ABA Towers.
Mr. Iftekhar Ahmad Group CFO of ABA Group thanked Mohammad Ghaddar and Rami Qudah from Deloitte for providing the training program.
On 15th February 2015 The Ali Bin Ali Group’s FMCG division organised an event at the Finance Shared Services office at D’ring Road in Nuaija.
Building on a successful journey and four years of learning and experience in the ABA Finance Shared Services function, ABA Group CFO Mr. Iftekhar Ahmed announced the opening of AP Shared Services in FMCG commencing from 15th February, 2015. It was learnt at the gathering that a dedicated task force team led by Mr. Jeyaprakash Velu under the supervision and guidance of Mr. Sampath Balaji spent almost 10 months in planning, preparing and carrying out the ground work right from the process definition upto drafting SLA’s for a seamless migration including alignment of the respective stake holders and consulting with overseas Shared Services Expert.
It was also announced that Mr. Sukanta Chakrabarty, Team Leader of AR Shared Services Team, after successfully launching the ARSS will move on to the new role of leading the APSS team.
Present at the event were ABA Group’s CFO, GM(F)FMCG, Finance Managers FMCG, Key finance team members and Shared Services Members.
Addressing those gathered, ABA Group’s CFO said “This is only the beginning and I expect more divisions to join the shared services umbrella in coming months and years. As has been the case with ARSS, I am confident that the cost of managing the shared services will significantly come down with time due to scale effect. More importantly, this will relieve managers to spend more quality time on strategic and business critical issues. Also this will be of significant step forward for us for the implementation of new ERP system in ABA.”
