KUWAIT: Alghanim Industries, one of the largest privately owned companies in the region, was recently awarded the 2017 Corporate Treasury Team of the Year Award at the Association of Corporate Treasurers (ACT) Middle East Annual Summit, which was held at the Conrad Hotel in Dubai, UAE on 20 November 2017. Earning this award recognizes the company’s high standards in managing corporate finance and funding, governance, risk management, as well as cash management.
Over the years, the Alghanim Industries treasury department has implemented several strategic initiatives focused on automation and risk mitigation. The company was one of the first private sector companies in the region to implement Straight Through Processing, a digital payment mechanism on SWIFTNet that automates payments and reduces risk. Other initiatives implemented include working capital financing through Islamic finance products, supply chain financing solutions and the introduction of prepaid debit cards to minimize cash transactions.
Chief Operating Officer at Alghanim Industries, Samir Kasem, congratulated the team in winning this prestigious award and thanked them for continuously delivering high quality services.
In his comment, Chief Support Services and Chief Financial Officer at Alghanim Industries, Robert Etman said: “We are delighted to receive the Corporate Treasury Team of the Year Award from ACT. This is a recognition of the excellence displayed by our treasury team and the contribution it makes to our businesses.”
Receiving the award, Corporate Treasurer at Alghanim Industries, Sonal Gupta said: “We thank the ACT for recognizing the efforts of our team. The Alghanim Industries treasury team has been taking on bold initiatives to make sure the company is at the forefront in implementing the best treasury practices, and this award is a testament to what we have achieved, and a reminder that we must aspire to continue setting the bar in our field.”
The ACT award further cements the company’s position as an “Employer of Choice” for candidates interested in jobs within the field of Finance. Earlier this year, the company was awarded the Gold Approved Employer status by the Association of Chartered Certified Accountants (ACCA). Alghanim Industries has a proven track record of supporting the training of its talents in the fields of Finance and Accounting, and helping them to earn their own certifications.
Alghanim Industries is one of the oldest and largest, privately-owned companies in the MENA region. Founded at the turn of the century, in Kuwait, the company today employs more than 15,000 people in 30 businesses across 40 countries in the Middle East, North Africa, Eastern Europe and Asia.