MANAMA: Mahmood Rafique, Editor: The reporting standards for environmental, social and governance (ESG) by accounting industry continue to be crucial in addressing the climate change issues in accountancy spheres globally.
This is the crux of a keynote address delivered by Farrukh Rehman the President of Institute of Chartered Accountants of Pakistan (ICAP), who touched upon the challenges posed by the emerging reality of reporting on issues related to the ESG and how the accounting industry is shaping up to address the climate change issues within the industry.
He also touched upon the pillars in ESG frameworks that represents three main areas that companies are expected to report in. The goal of ESG is to capture all the non-financial risks and opportunities inherent to a company’s day to day activities.
The Bahrain Chapter of the Institute of Chartered Accountants of Pakistan (ICAP) organized an Annual Dinner yesterday (May 25) at The Grove Resort, Amwaj Island. The event, themed “Advancing Sustainability: Celebrating Excellence in Finance,” brought together esteemed professionals and dignitaries from both Bahrain and Pakistan, marking a significant occasion of networking, recognition, and celebration.
The evening kicked off with a recitation from the Holy Quran, followed by a warm welcome by the Chairman of the Bahrain Chapter ICAP, Muhammad Saeed Butt, who introduced the event and highlighted the importance of sustainability in the finance profession. The theme underscored ICAP’s commitment to integrating sustainable practices into the finance profession.
The event was graced by distinguished guests including Saqib Rauf, the Ambassador of Pakistan to Bahrain, Jamal Fakhro, Managing Partner of KPMG Fakhro and member of the Shura Council, Talal Al Zain, Founder and CEO of Jisr Holding and former Group CEO of Trust International Insurance and Reinsurance Company, and Tariq Sadeq, Managing Director of Keystone Consulting and former Managing Partner of EY Bahrain. Their presence significantly elevated the event’s significance and underscored the strong ties between the finance communities of Bahrain and Pakistan.
A key highlight of the evening was the recognition of over 40 Chartered Accountants from Pakistan for their outstanding contributions, celebrating milestones of 15, 25, and 50 years of service. These awards honored their dedication and commitment to the finance profession.
Khalid Rahman, the Chairman of the Overseas Coordination Committee, traveled from Karachi to attend the event. Their presence and insights on sustainability and excellence in finance added tremendous value to the occasion. Jamal Fakhro also expressed his appreciation for the event and emphasized important elements to consider for sustainability.
The success of the event was made possible through the generous sponsorships from esteemed organizations in Bahrain such as APM Terminals, Khaleeji Bank, Keypoint, Kalaam Telecom, and Dragon City. The elegant setup at The Grove Resort, with its stunning sea view and sunset, contributed to a memorable and impactful evening.
Muhammad Saeed Butt expressed his heartfelt gratitude to the honorable guests, sponsors, and volunteers, emphasizing that the event’s success was a testament to their collective efforts. He highlighted the importance of volunteer work and team collaboration in making such events possible and recognized the volunteers with special shields for their continuous support over the past years. Additionally, sports shields for the Padel Tennis and Badminton tournaments were awarded to the winning teams, promoting sports alongside the professional growth of finance professionals.
The evening concluded with a networking session and a sumptuous dinner, leaving attendees inspired and committed to advancing sustainability and excellence in their professional pursuits.
