Amid the coronavirus outbreak worldwide Talal Abu-Ghazaleh Global Gives Full Support to MSI 20000 Financial Standard
PARIS, 09 April 2020 - Amid the coronavirus outbreak worldwide and the general economic downturn, IWK Corporate, the technical supporter of the MSI Observatory, and Talal Abu-Ghazaleh Global (TAG.Global), the global organization for professional services, education and technology, have signed a strategic partnership for the deployment of the financial standard MSI 20000 in 14 countries including the United Arab Emirates, Egypt and Jordan.
The partnership also aims at supporting investors and financial experts in evaluating the financial health of enterprises in terms of resilience and performance.
The agreement was signed early March at Brongniart Palace in Paris, in collaboration with Finance Innovation, was attended by leading experts in the fields of finance, financial information, standardization and certification, including Dr. Rama Cont, President of the MSI Observatory, Mr. Jérôme Gacoin, President of Aelium Finance, and Mr. Yvan Mainguy, General Director of DEKRA Certification, MSI 20000 Certifier in Europe.
The objective of the agreement is also to duplicate and deploy in the Middle East a model that proved its value in Europe and in Africa.
Through the MSI 20000 accreditation, TAG.Global strives to consolidate its leading position in the markets, and position itself well with respect to its high added value services in terms of financial engineering in a perpetually evolving and changing region.
Moreover, the partnership comes in line with the strategic vision of TAG.Global Chairman and Founder, HE Dr. Talal Abu-Ghazaleh, which allowed the Organization to maintain a strong and sustainable international growth since its establishment in 1972. TAG.Global operates out of more than 100 offices worldwide and employs close to 2000 multidisciplinary professionals.
It is worth mentioning that the selection of TAG.Global as IWK partner was primarily based on the fact that it is a major and a key player within a wide range of professional services, and the largest international group of firms for professional services in the fields related to finance, accounting, audit, legal, consulting and intellectual property.
The MSI 20000 standard is the international standard for determining the quality of the situation of financial enterprises and institutions. The MSI 20000 certification aims to assess the financial health of enterprises, on the basis of their solidity and their performance. The Standard applies to all companies, of all sizes, listed or not listed and it covers every sector of activity. Established by the MSI Observatory, the MSI 20000 standard was developed by leading global financial experts, before being tested and adapted over several years.
The analysis process evaluates all data regarding business finances and management of a company, through a sectorial approach and very strict principles, based on several evaluation criteria and inherent normative reference levels.
Commenting on the signing of the partnership, Dr. Abu-Ghazaleh, known as the Godfather of Arab Accounting, expressed his complete support for this cooperation.
“Our belief is that the MSI 20000 certification, through its exhaustiveness and quality of analysis, represents a decisive advantage for any company, and it is for this reason, and even more during these troubled times, that the MSI 20000 certification is entirely adapted to the challenges of the enterprises in the Middle East in terms of process of consolidation and of valuation of enterprises” Dr. Abu-Ghazaleh said.
Meanwhile, Dr. Cont commented: “We, with much interest, welcome the decision of the adoption of the MSI 20000 methodology for accompanying the enterprises in the Middle-East, and we are happy about the natural synergy established between the MSI 20000 standard and the activities of financial and accounting audit.”
For his part, Mr. Cristian Mocanu, General Director of IWK Corporate in Paris, said: “During an ongoing sanitary crisis, that has a major impact on the global economy that unavoidably reminds us of the roots of the MSI 20000 standard, this partnership will allow us to channel and centralize all the certification requests in the Middle East particularly through a prominent partner such as TAG.Global.”
Meanwhile, Mr. Souheil Skander, Director General of Maghreb Corporate in Tunisia, an affiliated member of IWK Corporate that is designated to assist TAG.Global, due to its geographical proximity and the similarities between the regions of Maghreb and of the Middle-East commented that: “This rapprochement, is the first foundation stone in building a real and a fruitful partnership, bearing in mind the Arab countries’ -already included- interest in the MSI 20000 standard.”
Jérome Gacoin, President d’Aelium Finance said “We are proud to be associated with this operation that prefigures a new era for the listed and non-listed companies in the Middle-East and beyond”.
The partners announced in this respect that they have already identified the first companies that qualify for obtaining the certification; companies that will be subject to MSI 20000 evaluations.