KARACHI, December 23, 2024: The Institute of Chartered Accountants of Pakistan (ICAP) proudly marked the 10th anniversary of the National Finance Olympiad (NFO), celebrating a decade of fostering financial acumen, innovation, and leadership within Pakistan’s finance community. This prestigious event, a flagship initiative of ICAP’s Professional Accountants in Business (PAIB) Committee, has evolved into a premier platform for finance professionals to demonstrate their expertise and strategic thinking.
Over the years, the NFO has grown significantly, both in scale and impact. This year, 52 teams from diverse sectors competed in two challenging rounds, culminating in an exhilarating Grand Finale. The top six teams—Unilever, Lipton Teas & Infusions, Engro Fertilizers, KPMG, KnS School of Business Studies, and K-Electric—battled for the esteemed title of “National Finance Champion 2024.”
Innovative Competition Format
Reflecting the evolving needs of the industry, this year’s Olympiad featured a dynamic competition format that tested participants through real-world scenarios, case studies, and interactive activities. A key highlight was the introduction of simulation-based assessments, evaluated by leading industry experts.
The competition included:
- Case Studies: Focused on ESG (Environmental, Social, and Governance), business sustainability, geopolitical conflicts, and supply chain strategies.
- Board Room Challenges: Teams presented strategic proposals to an esteemed jury, showcasing their analytical and problem-solving skills.
- Interactive Activities: The Spin the Wheel challenge added a thrilling element of risk and strategy, requiring participants to make quick decisions under pressure.
A Night to Remember
The evening began with a warm networking session, followed by an inspiring address from Mr. Samiullah Siddiqui FCA, Chairman PAIB Committee and ICAP Council Member. He commended the participants and highlighted the NFO’s role in empowering finance professionals to tackle contemporary challenges.
ICAP President, Mr. Farrukh Rehman FCA, praised the Olympiad as a cornerstone for nurturing talent and fostering innovation. He emphasized ICAP’s commitment to developing future leaders who can drive Pakistan’s socio-economic progress on the global stage.
Panel Discussion: Insights from Industry Leaders
A panel discussion featuring prominent industry figures offered a retrospective on the NFO’s decade-long journey. Panelists included:
- Mr. Shakaib Arif FCA, CEO, Naymat Collateral Management Company Limited.
- Mr. Ali Tariq, CEO, Unilever Sri Lanka (former CFO Unilever Pakistan).
- Mr. Khalilullah Shaikh FCA, Board Member, IFAC.
The session, moderated by Mr. Samiullah Siddiqui FCA, delved into how platforms like the NFO shape the future of finance by cultivating strategic thinking and resilience.
Grand Finale Highlights
The six finalist teams demonstrated remarkable financial acumen during the Grand Finale, which consisted of three rigorous rounds:
- Board Room Presentations: Addressing complex scenarios such as corporate social responsibility and strategic investments.
- 100-Second Rapid-Fire Round: Testing quick decision-making and depth of knowledge.
- Spin the Wheel Challenge: A high-stakes activity combining strategy and risk.
The KnS School of Business Studies emerged victorious, clinching the title of National Finance Olympiad Champion 2024, while K-Electric and KPMG secured the 1st and 2nd Runner-up positions, respectively.
A Collaborative Success
Mr. Samiullah Siddiqui FCA extended heartfelt gratitude to the organizing team, collaborators, and partners, including Unilever Pakistan Limited, KSBL, A.F. Fergusons, EY Ford Rhodes, and ICAP’s dedicated departments, for their contributions to the event’s success.
The event concluded with the distribution of mementos, a group photo session, and a celebratory dinner, bringing together students, seasoned professionals, ICAP members, and corporate leaders in a shared celebration of excellence.
About ICAP
Founded in 1961, the Institute of Chartered Accountants of Pakistan (ICAP) is a leading professional body committed to upholding the highest standards in accounting and finance. With a robust education and examination system, ICAP has nurtured generations of finance professionals, empowering them to become dynamic leaders driving innovation and growth across industries.
The National Finance Olympiad 2024 stands as a testament to ICAP’s dedication to excellence, offering a platform for the finance community to showcase their skills, learn, and lead with confidence.
