Hall Of Fame- Success Story
Dr. Khalid Maniar
Chairman of Middle East and North Africa Members Group of Crowe Global.
Dr. Maniar is a Doctoral Scholar from the Washington International University- USA, member of the Association of Chartered Certified Accountants of the United Kingdom, highly respected speaker on professional and human-interest subjects at local and international seminars and member of the “International Who’s Who of Professionals in the U.S.A”
He is the Chairman of Middle East and North Africa members group of Crowe Global. Also an elected member of Adviosry bord of Auditors Advisory Group established by Dubai Chamber. Besides that, he is a Quality lead assessor and member of International Arbitration Group. He was past Executive committee member of Indian Business and Professional Council.
Dr. Khalid has been Awarded as.
ACCA Special Recognition Award for his commitment to the accountancy profession,
Forbes listing of top 100 Indian Business Leader in the Arab World,
Indywood Pravasi Ratna Awardee,
Pride of India – Golden Awardee,
HOW DID YOU START YOUR JOURNEY AND ESTABLISHED YOUR OWN FIRM
After completing my graduation in business and accountancy in India i went to London to pursue ACCA qualification and after qualifying in 1978, I established a partnership firm in London.
In 1981 I migrated to UAE and established a firm as accountancy and consultancy practice. Presently, it is member firm of Crowe Global which is globally ranked as the 8th largest accountancy network, with a presence in 130 countries and over 42,000 people worldwide.
The firm is amongst the key economic center for the Crowe Global Network. Firm is providing services in areas of statutory and internal/management audit, Corporate Advisory and Dispute Resolution.
In 1995 I also founded Crowe Global member firm in Sultanate of Oman.
CHALLENGES FACED DURING INITIAL PHASE IN RUNNING FIRM
In 1981, in absence of implementation of the Commercial Companies Law, audit was not readily acceptable, and most audits were driven by banks’ insistence of getting the audit done for renewal or establishment of facilities.
This was the major hurdle by the banks’ insistence of getting the audit done by the auditors who are empaneled with them. Ours as new firm recognition was not there. Despite the clients’ acceptance, the bank would decline. Of course, slowly after Central Bank’ acceptance of our name as it’s empaneled auditors, acceptance of our name get wider.
THE FAMILY LEGACY -CHILDREN’S ROLE IN FIRM
I am fortunate with my two sons (Zayd Maniar and Adel Maniar, later being in Muscat) and son in law Saad Maniar all are also qualified Chartered accountant and chosen Dubai as place of work. Further my daughter (Reefat) , after graduating from UK, is also working with us and taking care of our IP work. This is indeed a great help for me as the firm expanded to greater heights with multiple branches and multidisciplinary practice and needed more support of my family besides many outside partners too.
HOW DO YOU SEE IMPACT OF COVID IN UAE AND WHAT WILL BE YOUR ADVISE TO BUSINESSES
Inflation and Job redundancies – Due to profiteering tendency of local traders to maintain their expenses, Inflation has slightly gone up and restricted business opportunites has impacted Jobs.
Real estate in UAE – Due to decrease in volume of new incoming international companies and restricted local buying, demand has decreased. However, supplies continued with almost same pace. These factors have reduced demand resulted into price touching the bottom level.
How do you foresee ‘revival to normal – It is Very difficult to predict till eradication of Covid 19. However, I am very confident, Dubai, with its Midas touch will recover sooner than any country in the world.
Businesses should remain watchful and undertake necessary measures to stay focused on their core competence and review their business models with an eye on delivery, value addition and quality. If at all horizontal expansion may be possible if it supports, the existing customer base.
ADVISE TO PROFESSIONALS WHO WANTS TO START THEIR OWN CONSULTANCY FIRM
If someone has the right kind of experience and qualification with strong contacts (built locally with working involvement) , one may start his/her own Consultancy firm. I am confident with dedicated approach and patience, will be successful.
KEY RECIPE OF YOUR SUCCESS
The key to Crowe‘s success is our ability to effectively and timely address client needs and interests via a tailored solution approach. Crowe’s greatest strength has always been with having experienced and seasoned partners and our ability to understand the strategic needs of clients across the audit, tax, advisory, risk and technology services. The firm has a strong presence in the UAE, with over 250 staff and a diversified and growing client base.
We recognise the right expertise by choosing the right people for the right job and do deliver only the best with our Subject matter experts.