AlFahim Earns Working Capital Management and Treasury Professional of the Year Award At Act Middle East Treasury Awards 2018
ALFAHIM takes home two Awards at the ACT Middle East Treasury Awards 2018 Dinner. The annual awards celebrate the achievements of treasury professionals, and recognise companies and individuals demonstrating innovation and excellence in corporate treasury.
Chairman of ALFAHIM, Mr. Ahmed Abdul Jalil Al Fahim, said, “ALFAHIM is proud to have spearheaded the first export credit backed revolving working capital structure in the UAE and the wider region. This accolade acknowledges our team’s ability to manage and optimize the company’s financial position under the prevailing market conditions while efficiently managing its liquidity.”
Krishna Subramanian, Chief Financial Officer at ALFAHIM, said: “We are honoured with this recognition which reaffirms the strength of ALFAHIM. These awards are testament to the confidence and appreciation of our bankers, creditors, and other stakeholders.”
A leader in introducing many novel treasury management concepts to the market to benefit the organisation and the industry at large, ALFAHIM managed to tap into a unique offering from Euler Hermes AG, the official export credit agency of the German Federal Government, and in conjunction with Standard Chartered PLC structured this innovative financing proposition.
Apart from being the first time a UAE-based company leverages this offering with a manufacturer to the benefit of the distributor, prompting the automotive plans to take the product mainstream across its global network.
Nader Aboushadi - Group Treasurer at ALFAHIM, said, “ALFAHIM has been and remains a key authorized distributor for the past 60 years. Today, we further solidify that position by introducing this cutting edge, innovative financing structure which will provide all car distributors across the region with a new, efficient and cost effective financing solution.”
Mr. Aboushadi added, “We thank the association, our bankers and our stakeholders for this recognition, which will motivate the team for further innovation and further success.”
ALFAHIM’s Emirates Motors Company (EMC), its flagship, and its Al Ain arm, Eastern Motors, distribute the world-class German brand, Mercedes-Benz in the Emirate of Abu Dhabi.
Al Fahim Group
Al Fahim Group is one of Abu Dhabi's most successful family businesses. The company was founded by the late Abdul Jalil Al Fahim in 1958, a visionary entrepreneur who led the company until his death in 1996. Today, it continues to be directed by a board composed of eight brothers, intrinsically motivated to preserve and enhance the business seeds sown by their father - for the good of the country, and their compatriots.