In a grand spectacle of financial prowess, the Institute of Chartered Accountants of Pakistan (ICAP) concluded the National Finance Olympiad (NFO) 2023, setting a new benchmark for excitement and strategic brilliance.
A total of 38 teams representing various sectors and organisations participated in the rigorous competition, which spanned two challenging rounds. The top 6 teams, Engro Fertilizers, Hubco, Midas Safety, EY Ford Rhodes, Falcons Dubai, and KnS School of Business Studies, showcased exceptional financial expertise and secured their places in the Grand Finale.
Reflecting on the event’s grandeur, Mr. Samiullah Siddiqui, FCA, Chairman PAIB Committee, and Council Member ICAP, conveyed that NFO has consistently been dedicated to pushing boundaries and nurturing professional development. The introduction of ‘Spin the Wheel’ added an element of unpredictability, enhancing the competition’s dynamism and challenge.
The event unfolded with an intense Board Room challenge, where each team presented to the esteemed Jury their proposals on different scenarios. The scenarios ranged from Environmental, Social, and Governance, Corporate Social Responsibility, Geo-Political Conflicts and Business Sustainability, Export potential, Strategic Investment Evaluations, and Supply Chain.
The esteemed Jury comprised Dr Ahmed Junaid, Dean and Rector KSBL; Mr Khaldoon Bin Latif, CEO – Alfalah Asset Management Limited; Ms. Naila Kassim, Group Director HR for House of Habib, and Mr Shakaib Arif, FCA, Chief Executive Officer at Naymat Collateral Management Company Limited; all listed in alphabetical order. The Grand Finale comprised of three intense rounds, each designed to test the participants’ financial acumen and strategic thinking. From qualifying assessments to simulation-based challenges, the competition built up to the climactic moments of the Board Room- Unwind the Mind, the rapid-fire 100-second round and Spin the Wheel. The “Spin the Wheel” challenge forced the teams to make strategic choices from six distinct categories while incorporating an element of risk that added unprecedented excitement to the competition. This dynamic addition created an atmosphere of suspense and excitement, keeping participants and spectators on the edge of their seats.
After a tough competition, HUBCO emerged triumphant as the National Finance Olympiad Champion 2023, securing the esteemed trophy while KnS School of Business Studies and FALCON Dubai claimed the titles of first and second runners-up, respectively.
The President, Mr Muhammad Ali Latif FCA, recognised finance professionals’ critical role in the nation’s socioeconomic development. He congratulated the proud winners and expressed gratitude to the NFO organising team of ICAP’s PAIB committee, Unilever Pakistan Limited, Learning Partner KSBL, Technical Partners A.F. Fergusons & BDO Ebrahim & Co. ICAP team from Examinations Department, Information Technology Department, MARCOM, and Administration were also appreciated in making the program successful.
The National Finance Olympiad attracted a diverse audience, including students, chartered accountants, Council Members of ICAP, Past Presidents, Southern Regional Committee members and finance leaders from prominent companies across Pakistan.