Name: Redha Abdulla Faraj – Past President

Nationality: Bahraini

Date of Birth: 16 October 1941

Contact address: P O Box 1093, Manama, Kingdom of Bahrain

Telephone: +973 17540025

Education/Qualifications:
Fellow of the Chartered Association of Certified Accountants (FCCA), UK
Member of British Institute of Management (MBIM)

Major courses/Conferences attended:
Attended a number of courses/seminars/conferences since 1970, both within and outside of Bahrain, on varied subjects. The major areas being:

• Human Resources Development
• Oil and Gas Industry
• Business Restructuring
• Strategic studies for Industries
• Marketing
• Insurance
• Islamic Financial Institutions

Speaking engagements:
Mr Faraj has delivered talks/presented papers at:

• Various Industrial seminars/conference
• Various Investment seminars/conference
• Accounting/Financial seminars/conference

Memberships:
Mr Faraj is a member of the various organisations and holds responsible positions. His major memberships are:

• Founder member of Organisation for G.C.C. countries
• President of The Bahrain Accountants Association
• Founder member of the Arab Society of Certified Accountants
• Member of Arab Federation of Accountants
• Member of Arab Institute of Accountants
• Member of the Economic Board
• Member of the Industrial and Contracting Committee of the Bahrain Chamber of Commerce and Industry
• Founder member of Import Export Society
• Founder member of several charitable societies
• Chairman of the Board, American Mission Hospital
• Director, Bahrain Maritime & Mercantile International B.S.C. ©
• Director of Bahrain Development Bank

Experience:
Al Faraj Consulting W.L.L.

A Bahrain based management consultancy group specialised in providing business advice to corporations on issues of strategy, organization and technology.

The range of services provided include but not limited to Corporate Governance, Business Improvements, Policies and Procedures, Mergers and Acquisitions, Strategic Alliances, Business Solutions including Business Plan, Recruitment, IT Solutions, Project Management, Feasibility Studies, Training, etc.

1991 to September 2001:
Partner, Ernst & Young, Bahrain Office

During his career Redha has gained extensive commercial and accounting experience, having previously worked in industry. His client portfolio covers a variety of industries including banks, insurance companies, retail, manufacturing and airlines. He also has considerable experience of Bahrain Commercial Companies Law and has wide ranging connections with Ministries in Bahrain.

His experience includes:
Banking

Responsibility of managing the audits of a number of Offshore, Investment, Commercial and Special Purpose banks in Bahrain.

Undertaking the audit and consultancy assignments for Islamic and Special Purpose banks, such as Housing Bank, Bahrain Development Bank. These include advising on the strategies of their formation.

Airlines

Responsible for managing the audit of a major Gulf based airline.

Valuations

Managing several valuation and due diligence assignments in the financial services sectors including providing advice on local regulatory requirements.

Consultancy

• Focus strategic study for Bahrain Islamic Bank and Housing Bank
• Prepare Accounting and Procedures Manual for the banks and industrial organisations.
• Review of Organisation Structure for the banks and oil industry organisations.

The particular areas related to Islamic Financial institutions summarised as follows:

• Headed a team with INF and carried out a detailed review of Islamic Banking Standards used in Iran and suggested changes to accommodate requirements of the International Accounting Standards.
• Acted as partner responsible for Islamic Financial Institutions Audits.
• Participated in presentations in seminars and conferences on Islamic Financial Institutions.
• Developed with Sheria Supervisory Boards of Islamic Financial Institutions the requirements for the allocation of Profits to shareholders and customers.
• Established Islamic investments banks and other institutions.

1976 to 1991
Deputy General Manager, Arab Shipbuilding and Repair Yard Company (ASRY)

As a Deputy General Manager he was responsible for Financial, Administration, Personnel and Procurement. The major tasks under the four categories are summarised as under:

Financial:

• Ensure that other members of management receive timely information on financial and other matters that allows them exercise control.
• Ensure that the information presented is accurate, concise and lucid manner.
• Supervise and explain to employees on how to make best use of financial and other control ratios. Advise management on ways and means to achieve cost consciousness throughout the Organisation.
• Supervise preparation of annual accounts in accordance with legal requirements. Ensure that statutory requirements are followed.
• Contribute to the establishment and supervise the development of financial strategy of the company.
• Develop budget guidelines and direct preparation of the Budget.
• Maintain and ensure that there is an effective cash level management, minimum stock level yet a good service, efficient credit control, effective monitoring of accounts receivables, optimisation of interest income.
• Supervise preparation of updated financial authority list for all management positions.
• Supervise and direct computer department so it contributes to efficiency and cost reduction of the company.
• Supervise and analyse financial results to determine if there are indications of emerging problems. Alert management of the potential problems.
• Supervise review of capital expenditure.
• Liaise with External Auditors.

1976 to 1991
Deputy General Manager
Arab Shipbuilding and Repair Yard Company (ASRY)

Administration:
• Supervise and ensure that the company uses efficient, up to date technology in office automation and communication (Telex, Facsimile, Telephone and Mail).
• Supervise and ensure that effective communication and working relationships are maintained with all divisions.
• Supervise and ensure that all positions are held by competent personnel. Agree performance objectives with subordinates and follow-up. Ensure that the necessary services are provided at minimum costs.
• Supervise and ensure that Safe Operating Procedures for the shipyard are adequately complied with.
• Supervise and review all the security arrangements for the Shipyard and adherence to normal standard practices followed.
• Responsible for overall effective functioning of medical services.

Personnel:

• Develop and supervise personnel policies and plan in line with the company objectives.
• Develop and supervise plans to recruit Arab Employees so that the maximum number of positions at all levels are filled by competent and high performing Arabs in line with company objectives.
• Supervise and ensure that there is an effective system of performance review and succession planning.
• Supervise and develop and continuously improve programme to improve management performance.
• Responsible to develop programmes for achieving a good level of communication about company objectives and company progress with all employees.
• Responsible to develop strategic plan on personnel issues.
• Supervise and ensure that there are up to date Task/Job description for all management levels. Update decision table for top management as decided by the General Manager.
• Supervise development of plans for salary scale, benefits, grading schemes and job evaluation.
• Supervise and monitor the motivation level of different categories of employees. Develop proposals to improve motivation if found unsatisfactory.
• Responsible for maintaining good industrial relations.
• Supervise and solve internal conflicts effectively.
• Responsible for developing and running programmes to train/develop workers so that they can carry out the whole range of tasks up to the most complex one, in line with the requirements of production.

Procurement (Material):

• Responsible for the efficient functioning of the material stores (central warehouse).
• Supervise and ensure that all external purchases are carried out securing low prices, high quality and good services.
• Supervise and ensure that the vendors/company relationship is maintained to secure the flow of materials and services.

1962 to 1976
Finance & Accounts Manager, British Petroleum (Eastern Agencies) Ltd.

Responsible for finance and accounting activities of the company for the entire Gulf region. The major tasks, among other, were:

• Organising and controlling an efficient financial accounting and costing system.
• Providing a service to local management.
• Producing periodical group accounts, management information returns, local cash reports, tax computations and financial statements for inclusion in the one year plan.
• Conducting frequent internal audit investigations throughout all the company’s locations.