April 2006
West Asia & Africa Region
Letter from the Chair

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The world is overwhelmed by despicable acts of terrorism and the Middle East is particularly susceptible, yet, the boat of business sails here, with unique and exciting development. Thereby, well-defending all business societies of the world.

The driving force behind this incredible growth is the great oil demand, the lifeline of the modern economy.

It has become hard to realize the number of business ventures taking place and, moreover, there is whopping increase in liquidity due to rising fuel prices and the influx of inward funds. Numerous firms have achieved award-winning projects, therefore propelling the economy towards reaching an astonishing pinnacle.

Regional business ventures are splashing out globally, and in the process, are choosing Dubai to make their presence felt. Dubai, with its strong infrastructure and tax-free, investors-friendly policies, has become a business hub for the region, as well as a global player.

I once again applaud the remarkable support being extended to nourish and cultivate business here in U.A.E by its government, even as the nation was coming to grips with the untimely death of its ruler, Sheikh Maqtoum Bin
Rashid Al Maqtoum, who was the mentor of several business groups.

Our region's success of its annual meeting at Istanbul, Turkey is also worth mentioning, despite a big no-show by the entire Indian and Western part of the Middle East membership. With the guidance of the CEO of AGN International, Nick Blake, it was indeed a much needed fine-tuning and revival for all members and participants.

Two aspirant members from Botswana and Syria also attended for the purpose of acquainting themselves with AGN, and we now await their membership application.

Recently, my firms in Dubai and Oman have been briskly attracting and conducting business from all the corners of the region and from various sectors. We feel that such driving force makes us more active in our field and in the process, makes us proud of the AGN brand.

The much-awaited, forthcoming partners' training sessions are now scheduled on 2nd & 3rd May 2006. The sessions will be conducted by a well-reputed instructor from the USA. Thanks to Rita and North America, groups are receiving training close to our region and we hope the membership at large will be able to avail the same.

I would like to invite our Asia Pacific members to actively participate and benefit from this opportunity. The membership is now on @ US$1750 at our regions headquarter (my office in Dubai). Such training will instill spirit
and bring the participants closer.

I give full credit to AGN, particularly for making our presence felt internationally, and increasing the desire for our everlasting search for new members from WAA Region.

Dr. Khalid Maniar
Chairman
West Asia & Africa Region, and
Managing Partner
AGN MAK
E.mail: makdubai@agnmak.com

 

West Asia & Africa sponsors first-ever partner training program

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Taking a play from the AGN North American region's playbook, Dr. Khalid Maniar has organized a training program for the AGN partners of the West Asia and African region.

The program will be taught by Tim Bartz on May 2-3 in Dubai.

Bartz is the managing partner of Anderson Zurmuehlen (AZ), a CPA firm based in Helena, Montana (not an AGN member firm). AZ, through its Upstream Academy, has become one of the pre-eminent firms in the US in developing leaders in CPA firms through very specialized leadership modules.

AGN International-North America, Inc., engaged Tim Bartz to teach its 2005 Advanced Partner Training program in May, 2005. Based on the success of that program, Bartz will teach the NA program again in 2006 in Philadelphia.
West Asian & African partners can look forward to sharpening marketing skills, learning new trends in developing interpersonal skills and how to maintain better client relationships during the two-day training.

For more information, please contact Dr. Khalid Maniar.



Member News

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OMAN
AGN Mak Ghazali

Davis Kallukaran is one of three speakers at an April 7 conference in Singapore on doing business in the Middle East.

BIZINFOASIA (www.bizinfoasia.com) is sponsoring the conference, which will feature lectures on "Laws and Regulations on Foreign Investment in Middle East" and "Middle East Tax Laws" (presented by an E&Y tax partner). Davis will be speaking on "Understanding Business Practice and Culture from the Oman Perspective".

"More than the opportunity to speak, I am thrilled at the coverage they have given the AGN logo (next to that of ) E&Y in the leaflets sent to more than 15,000 addresses in their database," Davis said.

AGN Mak Ghazali won all the league matches in their group at the third Oman inter-firm cricket tournament played in Muscat for the Bank Muscat Cup. They won the matches against PWC , Ernst & Young and PKF, to advance to the semi finals. There, they encountered Moore Stephens in a thrilling match that resulted in defeat for AGN Mak Ghazali.

While cricket is a passion, the team's professionalism catapulted them to the Top Five in terms of certain prestigious auditing assignments executed during 2005, including:

  • Oman Sheraton Hotel, The Chedi Muscat, holding company of Grand Hyatt, Muscat
  • Financial Settlement Guarantee Fund of the Muscat Stock Exchange
  • The Public Authority for Stores and Food Reserves of the Government of Oman
  • Oman Medical College and Caledonian Engineering College
  • Oman Agricultural Development Company SAOG of the accounts supported by Bann ERP Solutions.
  • Carried out the due diligence audit of Keemya Oman SAOG of the four years accounts audited by one of the Big Four.
  • How to run public limited companies. Their management consultants were responsible in drafting the policy procedure manuals in the areas of accounting, procurement, sales and marketing, HR and manual of authority, brokerage, corporate finance and asset management.

Some of the clients are:

  • Al Batinah Investment SAOG
  • Vision Investment SAOG
  • National Bank of Oman SAOG
  • Financial Corporation SAOG
  • Bank Muscat SAOG
  • Oryx Leasing Finance SAOG
  • Middle East Brokerage Company SAOG
  • Tageer Finance SAOG
  • Oman Cement Company SAOG
  • Oman India Fertilizer Company SAOG ( joint venture of the Government of Oman & India)

The team also successfully carried out the feasibility study for setting up Muscat University affiliating the various colleges with varied discipline in the country.

The software division developed and installed an integrated accounting software for a prominent legal firm with added modules of practice management system. This system facilitates client wise and staff wise time and cost management. They also successfully developed and implemented a total solution software integrating the accounting, academic, student and time table module for the Oman Medical College.

Been awarded the assignment to prepare all the policy procedure manuals (supply chain manual, accounting and manual of authority) for Gulf Air. To cap it all, the training division commenced their 15th batch of training for US CPA and also training for CIA and CMA.

Some of the other prominent assignments were the internal audits of:

  • Financial Corporation SAOG in the areas of Brokerage, asset management and corporate finance divisions along with the audit of IT, Accounting and corporate governance.
  • National Finance SAOG in the areas of vehicular and non-vehicular financing, factoring and provisioning requirements as per Central Bank rules.
  • Oman National Dairy Products SAOG including their IT systems supported by Bann ERP Solutions.
  • Al anwar ceramics SAOG.

We continue to thrive on the capabilities of our people. Our staff is our biggest asset. They are a very delicate specimen. Handle them carefully. The synergy of the firm is the collective skill set of its people. Recognize their capabilities and carry them with you, provided you have the strength.

 

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