profile

Farakh Farid

Chief Financial Officer

Dubai, UAE

Skills

Financial Management

Audit & Risk

Leadership

Strategy

Languages

Awards

Activities

About

Education

ACCA - UK

August 2001 - August 2001

ICAP - Pakistan

BA - Accounting , BA - Accounting

June 1997 - June 1997

Georgia Military College

May 1994 - May 1994

Experience

CFO

BurJuman , Dubai

January 2014 - January 2015

A dual mandate assigned by Al Ghurair to this newly create role for BurJuman, a multi-million dollar turnover and 400 employees organization. BurJuman is Dubai’s distinctive shopping landmark, comprising of 2.8 million square-feet of mixed-use space including the retail mall, luxury hotel, business tower and premium residences. • Business Planning: Strategic forecasts arising from over 350 retailers, anchor stores, hypermarket, cinema, family entertainment centre and F&B units to BoD, financial institutions and Group Treasury. • Budgeting & Reporting: Monitoring and creation of annual budget and forecast results on revenue share plus base rental agreements with leading GCC based retail groups. • Operations Improvement: Instituted a new governance framework and oversight mechanisms on project budgeting, payments and accounting of a US$ 110m building construction venture. • Debt Sourcing: Facilitated the re-structuring of existing and secured new debt of US$125m.

Finance
Leadership
Strategy
CFO

AG Telecom / Wasel Telecom , Dubai / Kabul

January 2012 - January 2015

AG Telecom is a dedicated telecom holding company based in the UAE with its major subsidiary, Wasel Telecom, a growing voice and data national mobile operator in Afghanistan having over 350 employees. • Operations Improvement: Cost optimization actions across major expense heads of the Afghan national telecom operator resulting in a 22% Opex reduction within 9 months. • Equity Sourcing: Secured $6m venture capture financing to fund Wasel’s network expansion.. • Vendor Contracts: Negotiations and execution of a 2 year $3.5m equipment financing deal with global network vendors. • Exit Strategy: Facilitated the design and execution of a workable exit strategy of Wasel from under the Al Ghurair Group leading to a successful management buyout. • Business Planning: Prepared and presented detailed strategic business plans, investment memorandums, teasers and forecasts targeting to source over $30m in equity / debt for Wasel’s 3G nationwide rollout.

Financial Management
Strategy
Operations

Workplace personality

100+

Company Size

12

Day Length

25+

Team Size

Loud

Noise Level

Formal

Dress Code

Benefits

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