Middle East Supplement June 2009

Let there be light

Since the first edition of the ACTME Supplement, there has been no let up in the volatility of global financial and commodity markets. Analysis of the impact of this volatility on a regional basis is clouded by different lead and lag effects in the industrial and financial sectors that are most important in this region: energy, infrastructure and property development. It remains critical therefore that treasurers and their colleagues in financial management demonstrate that their experience, education and skills in risk management and corporate finance are of the greatest possible benefit to their organisations.

Treasurers have a responsibility to all the stakeholders in an organisation, not just as far as their core competencies are concerned, but also in terms of bringing light to the often confusing and opaque language of financial management. For many board directors, treasurers have become the most reliable interpreters of the ups and downs of the credit crisis, both in an academic sense and informally, in how the markets have impacted (and will continue to do so) their businesses and organisations.

There is no doubt that economic development is greatly enhanced by the growth of a technically progressive workforce. In addition, the development of formal and informal networks can only help in the sharing of valuable experience and knowledge.

In coming to the Middle East, the ACT has recognised the demand from treasurers and financial managers for education and knowledge to aid the development of regional business activity as well adding to individuals’ careers. All those involved in the development of ACTME are committed to this development.

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