Past Events

Presentations

23 Oct 2021 - Presentation - E-Invoicing Policy Updates
23 May-Presentation- VAT and Tax Updates 
21 May - Presentation -AI  and Machine Learning Language -Mr Hisham ,Mr Balaji

15 May Recording Webinar

15 May  Presentation Prepare_yourself__for_post_Pandemic_-_Dr__Hani_Fetyani_2020-05-15.pdf

15 May 2020  Presentation  Resume Reborn-Ms Israa Garatli

2 May 2020 Webinar Presentation: Private Equity Simplified

2 May 2020 Webinar Presentation: Funding Options

1 May 2020 Webinar Presentation: Industry 4.0

IMA KSA- Western Chapter Webinar - The World Outlook Post-Covid 

Click here for a copy of the presentation 

The impact of the corona virus pandemic on the global markets and economy is difficult to assess, yet will leave its footprint in most sectors and economies for a very long time.

While the situation is changing dramatically, it is important for the finance professionals to stay abreast of analyses and forecasts. Therefore, we presented our fellow members an opportunity to gain an insight into the effects of the pandemic directly from the industry experts.

This webinar highlighted the effects of this disruptive pandemic which has challenged the world economic activity and led to global recession. Topics covered focused on the volatility in Oil Markets in the Middle East, the economic recovery after the recession (U-shaped or V-shaped), facts and figures of Covid-19 in ME and India.

Our Speaker, Mr. Raghu, who is the Head of Research at Kuwait Financial Center (Markaz) and MD of Marmore Mena Intelligence, provided expert’s perspective on the evolving economic crises and the aspects which stand out in financial landscape, the after-effects of drying out credits and the secondary and tertiary effects on the decisions made by all finance professionals.

Ramnarayan Iyer, Executive Editor at Saudi Gazette emphasized on the need to become digital in these unsettling and unprecedented times. Businesses will be able to retain market position once they adapt to the need of the hour, i.e Technological Upgrade.

CA Uttam Prakash Agarwal who is former president Institute of Chartered Accountants shed light on the recent developments in the Financial Institutions in terms of loan growth, interest rates, earnings, and liquidity.

Prabhat Bhargava,Localization Head at Microsoft  laid down his expert opinion related to tech savviness and how the technology and agility has become of prime importance in company policy measures.

In conclusion, the session with the facts and figures accompanied with interpretations provided insight on various aspects of change we will be experiencing post COVID.

Mind Mastery and NLP Training - 2nd March 2020

The IMA WP Chapter organized a distinguished event titled Mind Mastery and Neuro-Linguistic Programming. Our guest Speaker was Mr. Abdul Mannan, CEO of Abdul Mannan Life Coaching  which is a is a successful NLP Practitioner and a professional Corporate Trainer ,trained by no .1 Motivational speaker Tony Robbins who is an American author, life coach, and philanthropist. Mr. Mannan spoke on diverse topics including goal setting and positive thinking, overcoming anxiety and sleeplessness, overcoming phobias and fears, relationship issues, increasing self-confidence and anger management. The speaker uniquely mesmerized the audience by engaging them in physical and energetic group activities. The audience was completely engrossed in the event as it required 100% participation from all the people present. The event made us improve our concentration level; have better focus and consistency in our workplace and life decisions. The stress buster activities were a treat to our mind and body.
Our President of the Board commented that he felt "energized mentally and physically" after the session.

Desert Safari - 31^st January 2020

 

The idea of the family FUN event has been nurtured for the last one year and finally it happened on the 31^st of January 2020. We could finally pull it off after brainstorming and rigorous planning, while keeping aside prevailing contingencies over number of participants. The event went very well. The best part was the participants, gathered like a much known close family and that enhanced all the positive side of the time. This has made us happy and filled with pride and motivation to hold multiple events, going forward. All IMA members, Guests and colleagues deserve a big applause for the very active engagement while multiplying the happiness. Look forward to conduct more of such events in the future.The event added flavours of happiness and learning to our professional fraternity. Together, we can do wonders!

The team enjoying the scenic desert safari!

Emotional Intelligence - 25^th January 2020

IMA WP, KSA Chapter held a technical session on “Emotional Intelligence” new dimension to learning - an engaging and interactive lecture by Rishi Malhotra who is the Academic and Community Relations Manager Of IMA (Middle East And Africa) followed by a delicious lunch at Village restaurant - it was well attended. Members enjoyed the live presentation. One of the members commented over the event as below :“Right now most of us are e-connected (digital) when we replace this to e-connection (emotional) the chapter and CMA will go a long way…"

Rishi said "As time has evolved it is not just about delivering key messages anymore, but to have a greater understanding of Emotional Intelligence to obtain best results and outcome". Emotional Intelligence is generally said to includes a number of skills: personal competence, which includes self-awareness and self-management, plus social competence, which highlights the need to be aware of social awareness and relationship management.

Key points enlightened were on the power of emotion, ability to do SWOT analysis on ourselves, manage our impulses, develop rapport with individuals and read non verbal language more effectively.

Vijay Sony said: We made a beginning. With this January 2020 has brought difference experience to the Chapter- Technical session, Industrial Visit, Emotional intelligence and next is Desert Safari (FUN time) at end of this month i.e. 31st January 2020! A big round of applause to the speaker of month- Rishi Malhotra from IMA Dubai and our Active members who have participated with active engagement out of weekend family time today! Long live IMA WP Chapter - from President and Board members

Shoib Malik, appreciated the seminar spoken by Rishi Malhotra with a small token gift from the chapter.

Industrial Visit - 16^th January 2020

IMA WP Chapter, KSA organised an Industrial study tour in Jeddah. Overwhelming support extended by two premier Industries, National Food Industries Company (NFIC) and Sunbulah (Al Shifa Brand Honey Plant). The visit covered interaction with key manufacturing facility managers, process owners along with a visit to live manufacturing facilities. It also opened up healthy discussions over new emerging trends and introspection into the industrial revolution 4.0- A visit filled with practical experience and knowledge sharing. It was our first experience hence, it was limited to few members and selective students from different fields- However, we aim to organise another mega initiative with a similar role in the coming month and with a larger participation. Big thanks to the organizers and team members for making this visit a success.

On 17^th September 2019, a number of CMAs, IMA Members and professionals from the finance community attended a talk by Jeffrey Thomson, President and CEO IMA.

The event was arranged at Sheraton Hotel by the IMA Saudi Arabian Western Province Chapter Board to host the President and CEO of IMA, Jeffrey Thomson for a rich discussion about “Digital Transformation and The Call to Action For Management Accounts”.

Attendees were intrigued by the content Jeffrey had to offer with regard to the changes in the field of Finance and Accounting. A number of issues came under discussion including blockchain technology, Fin-Tech, artificial intelligence and the preparedness of the market to welcome such speedy advancements. A typical issue that came under discussion was the skill set that finance professionals need to acquire and build continuously to remain relevant in the field of finance.

Jeff also mentioned how IMA has updated the content of the CMA certification to be relevant for management accountants by redesigning the course for the CMA exams and including new topics related to Technology and Analysis, and Strategy. It is expected that the future job market will not have a number of positions that currently exist as technology replaces human requirement for repetitive tedious tasks. At the same time this will open doors for new positions and opportunities which will be more related to data analytics, strategical decision making and integrating advanced technology.

The takeaway message from the talk may be summarized in these words Jeff shared: “If you ask me, how much a finance professional must learn about technological advancements, my reply would always be: more”

This was followed by a presentation by Dr Nabil on the topic of Ethics in the Workplace. He briefed the gathering about the importance of workplace ethics and its various frameworks that would help finance professionals in decision making and professional conduct.

 
Jeddah at Hilton Hotel -18 December Y2017 ,Over 100 Members and Guest Gathered To discuses VAT Readiness and Implementation in KSA ,Vijay Soni President Of Institute of Management Accountants Jeddah Chapter Speaks Exclusively to banker Middle East On the impact Of VAT on financial instructions in the Region .​​

JEDDAH: Over 190 IMA® (Institute of Management Accountants) members and guests gathered to discuss emerging challenges with impending business regulations. The event was organized to help ease the worries of the business community about the impending implementation of in-house IFRS (International Financial Reporting Standard) conversion, VAT (Value Added Tax) and excise tax. The conference also discussed the role of management accountants in helping achieve the country’s Vision 2030.

With only two quarters left for IFRS convergence and less than a year for VAT introduction, IMA Western Province Chapter in Jeddah partnered with the Jeddah Chamber of Commerce & Industry (JCCI) to organize the event. Mr Mazen Kutbi, Asstt Secretary General, JCCI opend the forum with a wam welcome.

“KSA and all of the countries in the Middle East and GCC are looking to transform and diversify their economies, which include family-owned businesses, and they need the competence of a CMA® (Certified Management Accountant) to help guide and facilitate that transformation,” stated Jeffrey Thomson, president & CEO of IMA underscoring how the CMA certification can help the Saudi economy during this transformation.

“CMAs bring strategic thinking, technical accounting depth with business operations breadth, and the ability to convert data into dialogue to make smart choices. This includes data analysis, scenario planning, sensitivity analysis and simulations to support decreased dependence on oil through diversification, moving the focus of growth from public to private, creating an ideal growth environment for SMEs, and, increasing liquidity and solvency of the banking system,” added Thomson.

Antar Rafiq, executive director at ACA (Alliance Charted Accountants – Riyadh), showed a demonstration and explanation of how an organization can do the conversion of their accounting standard in-house with appropriate staffing/talent structure, this can reduce outside expert consultancy bill.

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Dr. Hani Fetyani of HHF spoke about the country’s Vision 2020 and how the private sector can assist KSA in achieving the targets. He also explained that the development goals would have a significant impact on all residents and citizens of KSA.

For his part, Vijay Soni, president IMA Western Province chapter discussed VAT and excise tax. Soni led a mini-workshop and explained how the VAT works. He assured businesses that VAT is not difficult to implement so long as they know the right calculation and configure their enterprise resource planning (ERP) system and train all stake holders in the business process. With blend of new talent and understanding, business houses can partner the nation in line with new taxation and compliances regime.

I have seen three of such events on VAT being organised by non profile organisations like IMA, recently and can sense a need for large scale knowledge sharing. Tax department may release dual lenguage regulations to help the business community. This may be coupled with multiple workshops covering different aspect of impmentation viz rule, regulations, business processes, information technology needs etc by various stake holders. Said Soni.

“We were not expecting such a large number of people participating especially during a weekday when businesses are running. The support and positive reception we received from our sponsors, speakers, chapter volunteers and members is an indication that everyone wants to know and have a better understanding of these regulations,” explained Soni.

Shaikh Mazen Batterjee, Vice Chairman, Jeddah Chamber praised the event saying “the chapter’s dedication to work in moving the focus of growth from public to private and create an ideal growth environment for SMEs. This includes explaining the in-house IFRS (International Financial Reporting Standard) conversion, VAT (Value Added Tax) and excise tax and how these regulations will help the country transform and diversify its economy towards Vision 2030. It is evident that we need the competence and support of finance and accounting leaders to help guide and facilitate that transformation.” I am impressed by the support and service provided by IMA Western Province Chapter volunteer leaders and members- he said.

Nosheen Ahmad from Jeddah Chamber extended welcome saying “Jeddah chamber as per instructed by our honourable vice chairman Shaikh Mazen Batterjee is always there to help business community and such events are of great value to business community”

The event was co-sponsored by Arrow Food Distribution Company – Jeddah, ACA in Riyadh and Morgan International. Shoaib Malik, VP the chapter, Nosheen Ahmed and Sahar Sharief received speacial award for their support.

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جمعية المحاسبين الاداريين في جدة تناقش الضريبة المضافة  

السعودية -جدة 20/03/2017- -يوم الخميس الموافق في 16/03 ما يزيد عن 200 عضو في الجمعية قي فرع المنطقه الغربية والمركز الاداري والمالي حضروا المنتدى عن الضريبة المضافة في مدينة جدة

تأثر اقتصاد المملكة بانخفاض اسعار البترول والتي انعكست على ثقة الأسواق العالمية والاستثمار

"الماليون ورجال الاعمال لا داعي للقلق .عوضا عن ذلك نحن بحاجة للتركيز على فهم سيناريوهات الاقتصاد الحالي والاساس المنطقي لما وراء زيادة ايرادات المملكة غير النفظية والتي تتضمن الضرائب في دول منطقة الخليج في الفتره القادمة" يقول السيد فيجي سوني رئيس فرغ المنطقه الغربية بالاستناد للدراسات عن الظروف الاقتصادية العالمية في عام 2016 م والتي ركزت على الحاجة لسياسات مالية حازمة لوضع مصادر المملكة باستدامه ثابتة .موازنة المملكة تقدر الزيادة المرتبطة في الايرادات غير النفظية ب20 % ما يعادل 199 مليار بالمقارنة مع السنة السابقة وهذه النسية مرجحة للزيادة بسبب الاصلاحات في دعم الطاقة والضريبة على الوافدين ,برامج دعم المشاريع والضريبة المضافة .

"في الأونة الاخيرة تم مناقشة ضريبة القيمة المضافة ومتوقع تنفيذها في بداية العام المقبل ,مثل هذا الاصلاح المالي بلا شك له تأثير على قطاع الأعمال ,والتي تتطلب استعداد للتغيرات في ادارة التدفقات النقدية والعمليات في المنشأة " يضيف السيد فيجي .

 

و قدم ندوة عن ضريبة القيمة المضافة للحضور ,TGS Global السيد علاء سويلم وضح الية عمل وتطبيق ضريبة القيمة المضافه في قطاعات مختلفة.

وامكانية الاستفادة من خبرات دول متعددة مثل المملكة المتحدة والهند في مثل هذا المجال .

 

السيد ريشي مالهورتا مدير العلاقات والاكاديميات في الشرق الاوسط -جمعية المحاسبيين الاداريين

أكد في اكثر من مرة التزام الجمعية لدعم المهنيين الماليين عن طريق زيادة كفاءة المنظمات .

كما اكد السيد وليد بامعروف الرئيس السابق عن اهمية الالتحاق بدورات المحاسبة الادارية والضريبة .

في إختتام الملتقى شكر السيد فيجي المتحدثين والحضور على اهتمامهم ونشاطهم خلال الملتقى .

المركز المالي والإداري قدم جوائز قيمة شملت دورات تعليمية مجانية للحضور .

كما شكر السيد فيجي اعضاء المجلس في جمعية المحاسبيين الاداريين السادة شعيب مالك , احمد السماك و عصام سالم بالإضافة للسيد محمود من المركز الاداري والمالي وجميع المتطوعيين .

 

اعضاء مجلس ادارة جمعية المحاسبين الاداريين مع ادارة المركز الاداري والمالي

 

 

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PICTURE 1 - IMA WESTERN PROVINCE’S BOARD AND EVENT MEMBERS (LEFT TO RIGHT). AHMED SAMMAK, ESSAM SALEM, VIJAY SONI, MOHAMMED ZALEE, NADEL NABIL, DEVENDRA SINGH, SHOAIB MALIK, WALEED BAMARAOUF, SHERIF ARYAN.

 

“Meet the Innovative Mind of Finance” kicked of as a

success!

17^th October 2016 – Over 70 members/guests attended the event arranged by IMA Western Province Chapter – Jeddah to meet the Innovative Minds of Finance. The first in the year 2016-2017 chapter, IMA Western Province Chapter held at Fine Grill Restaurant in Jeddah.

The chapter gave an upbeat message to the audience of the seminar, saying due to fluctuation in the Market and changes in the Saudi Arabia Market, new innovation is highly encouraged to secure a right job with the right mind set in order to progress its career and help the organisation to shift to better level. “Due to new regulations, market fluctuation and new challenges, Saudi Arabia is now looking for more qualified, more innovative and smarter minds in the market to help the country economy to grow” said Shoaib Malik – Marketing Director, IMA Western Province Chapter who started the talk after welcoming the audiences. The event consisted of many speakers who left the great messages to the audiences. Vijay Soni – Vice President IMA Western Province Chapter explained the nature of creating this chapter and the importance of CMA (Certified Management Accountant), how such qualification helps the employees and the organisation. The chapter announced that IMA has announced to give scholarship to few students from each university, arrangements with Jeddah based universities will be agreed upon soon.  

Vijay Soni has introduced the chapter members and the speakers, along with highlighing the relevance topics of the current economic situation to the audiences. Mr Krish Jangal (Innovation practioner - Group IT Manager for a leading FMCG) the main speaker was warmly welcome to present the talk about innovatiion. Krish has left a great message to the audience as there are difference between Innovation and inventor, given an example of Motorola and Iphone. Motorola was the first mobile phone invented but Iphone was the first innovator of smart phones, that’s why you see more half of the consumers with Iphone. No matter what, one must not stop innovation new things whether in personal life or work life even if you are demotivated.  

PICTURE 2: KRISH JANGAL DELIVERING THE MESSAGE

 

PICTURE 3: QUESTION FOR INNOVATIVE PRACTIONER

The talk followed by the Past President of IMA Western Province Chapter Mr Waleed Bamaraouf. Mr Waleed

Bamaraouf talked about the benefits of having a CMA qualification and the need of Saudi Market for a CMA. Mr

Waleed also left a thanks and appreciated the work

Picture 4: Waleed Bamaraouf – Past

President IMA Western Province Chapter saying few words about current affairs, the benefit of CMA and chapter.

 

arranged by the current members as he sees the potential and energy the team members have. Audiences had many more questions which Mr Waleed cleared for them such as the potential growth of CMA and procedures.

Panel discussion was called out where the speakers along with one of the audiences Mr Blaire Seaford – consultant for Ministry pariticipated and Mr Naveen Kumar who highlighted importance of destrictive innovation and its role in financial professional life.

Many interesting topics were discussed such as a “How to convince management about new innovations, convincing management about the course an employee wishes to take” etc. Such questions raised an interest in the conversations as it has cleared the concept of the seminar and confusion.

Before the dinner was called out, a raffle draw was announced where all audiences drops their name or business cards and Mr Ahmed Sammak – Membership Development Director & Board Member – called out the winner.

The lucky draw winner Mr Yahya Arif – working for Haji Husein Alireza as a Senior Internal Auditor was called to collect the raffle gift.

“The seminar was indeed very informative and useful, thanks IMA Chapter for bringing new information for us” said one of the audiences.

“We left the other chapter event and joined this one, we found the structure and subject very nice and it doesn’t bore you, the one we left was far boring” said    another guests.

PICTURE 5 AHMED SAMMAK GAVE RAFFLE WINNER GIFT FROM IMA

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Jeddah, KSA, January 25, 2017– Over 70 members and guests of IMA’s (Institute of Management Accountants) local chapter in the western province of Saudi Arabia gathered on Sunday, January 22, to talk about current economic conditions and new regulatory affair.

The sharp drop in the oil price has hit the Saudi economy hard. According to the results of the ACCA/IMA Global Economic Conditions Survey (GECS) for Q4 2016, the country’s economy is not at risk of a fiscal crisis, but fiscal policy will need to be tightened further in order to put its finances on a more sustainable footing.

On Sunday, IMA members and guests attended the event held at the Village Restaurant in Jeddah. Jason Mefford, president of Mefford Associates, talked about Governance, Risk Management and Compliance (GRC) as a means to protect companies and employees during difficult transition periods.

“Businesses fail due to noncompliance with strategic management. No matter how advanced and enormous the company is, there will always be weaknesses in the controls of set procedures. This is where management should consider adding controls to safeguard company assets,” explains Shoaib Malik, CMA, a board member of the IMA Saudi Arabia western province chapter.

Waleed Bamaraouf, the chapter’s past president discussed the role of GRC regulators such as the Ministry of Commerce and Industry (MOCI), Capital Market Authority (CMA) and the Saudi Arabian Monetary Authority (SAMA) in monitoring compliance standards in the country.

In closing, the chapter’s new president Vijay Soni, CMA, announced that IMA is set to give scholarships to few outstanding students from universities in Jeddah. Due to the great turnout, the chapter’s board members also agreeed to hold more current affairs seminars and workshops in the next few months. Visit http://www.ksa-wp.imanet.org to learn more about the IMA Saudi Arabia Western Province Chapter.

About IMA® (Institute of Management Accountants)
IMA®, the association of accountants and financial professionals in business, is one of the largest and most respected associations focused exclusively on advancing the management accounting profession. Globally, IMA supports the profession through research, the CMA® (Certified Management Accountant) program, continuing education, networking and advocacy of the highest ethical business practices. IMA has a global network of more than 80,000 members in 140 countries and 300 professional and student chapters. Headquartered in Montvale, N.J., USA, IMA provides localized services through its four global regions: The Americas, Asia/Pacific, Europe, and Middle East/Africa. For more information about IMA, please visit www.imamiddleeast.org.

Token of appreciation. Vijay Soni, new president of the IMA Saudi Arabia Western Province Chapter thanks guest speaker Jason Mefford, President, Mefford Associates, who talked about Governance, Risk Management and Compliance (GRC) during last Sunday’s event in Jeddah, KSA.

Mr Waleed and DrAmer Tarek supported the GRC and IMA topics. Mr Blaire Seaford, Kris and Noman spoke interesting topics in between. I’d like to express my appreciation to board members, MrSammak, Sherif Aryan, Essam Salem, Shoaib, Devendra Singh and active audience from varied corporates who helped in arranging the event in a short notice with a valuable take away,  said Vijay Soni.

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