chief future officer chats

Shaping the future: Mohamed Bellal on transformation, trust, and modern finance leadership.

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Group Chief Financial Officer, BPG Group
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Group Chief Financial Officer, BPG Group
“A real CFO isn’t just managing numbers, they’re thinking forward, shaping mindsets, and elevating others. I tell my team: you're the CFO of your domain. Own it, lead it, present it.”

You've had a remarkable 25+ year journey in finance, spanning petroleum, chemicals, pharma, listed companies, joint ventures, and more. Can you walk us through your professional journey?

It’s been 26 years now, though it feels like I’m just getting started. I began my career at ExxonMobil, where I learned the value of being truly utilized and appreciated. That foundation taught me that how you achieve results matters as much as the results themselves. I carried those values into every role I held afterward. I spent the first half of my career in Egypt working with multinationals like Birla Group and Evyap Egypt, gaining experience with ERP systems like SAP and Oracle, establishing SOPs, and earning a Six Sigma Greenbelt. In 2010, I transitioned to Saudi Arabia, joining Ford KSA, followed by a pivotal role at Al-Mahed Group as Group Finance Director, where I prepared the company for an IPO. I later led finance transformation at Spimaco across 14 companies, followed by similar strategic work with Sigma Group and SNASCO Holding. Today, I serve as a Board Member at SNASCO and Group Advisor at Saudi Paper Group. It’s been a rewarding journey that continues to evolve.

How would you describe your approach as a CFO today, especially when managing different business models and ownership structures?

To me, a CFO is not just a Chief Financial Officer, they are a Chief Forward Officer. Our role is to turn historical data into strategic foresight. It’s about being predictive and even prescriptive, like a doctor who diagnoses and prescribes ahead of the problem. I believe in extending that mindset to my team. I tell each team member they are the CFO of their domain, which builds ownership and accountability. For example, when someone once resisted presenting, I pushed them to lead, and they exceeded expectations. That’s how you grow leaders.

You’ve led several finance transformations. What's one common mistake companies make when modernizing their finance systems?

The biggest mistake is confusing digitization with transformation. Digitization is a tool; transformation is a mindset. Many companies believe that adopting an ERP or robotic platform equates to transformation, but if people continue operating with the same old mindset, nothing truly changes. Successful transformation depends on four pillars: mindset, people, process, and systems. Overestimating tools while underestimating people is a common pitfall. Without leadership to align and guide this change, transformation will fall flat.

Transformation can be challenging. How do you keep your team motivated through it?

I believe trust is the key to transformation. And trust comes from human connection. I build this through personal engagement, lunches, casual conversations, and showing genuine interest in my team’s challenges. I sit with them during troubleshooting sessions, not as their CFO, but as a team member. Recently, I encouraged each department to explore AI applications relevant to their work and report back weekly. This involvement empowers them to lead change, not just follow it.

Is there a specific transformation you’re especially proud of?

Yes, at Spimaco, we aligned finance departments across 14 companies in multiple countries in preparation for a public listing. Within a year and two months, we implemented a 360-degree performance system across 37 departments, integrating Power BI with SAP HANA. Each department's strategic initiatives were cascaded into milestones and linked to broader corporate goals. I personally championed Power BI adoption and secured internal buy-in. The transformation not only improved visibility and accountability but also positioned us strongly for the IPO. I later replicated this framework at Sigma Group and SNASCO.

Everyone’s talking about AI in finance. Where do you see real impact today?

There are two areas where AI can drive real impact: cash intelligence and enterprise value forecasting. Cash is critical to any business, and real-time dashboards powered by RPA and integrated with ERPs allow finance leaders to monitor cash positions, receivables, payables, and treasury activities across banks. The second area is using AI to dynamically model and project enterprise value using operational and market data. These insights are invaluable during M&A planning, factory relocations, or growth strategy discussions. AI can move finance from being reactive to truly strategic.

You’ve hired across geographies. What do you look for when building your team?

Mindset, always. Skills can be learned, but mindset is foundational. I look for leadership potential, accountability, and alignment with the company’s values. I test for this through strategic questions rather than just technical assessments. And once they’re onboard, I invest in building them into leaders. At Al-Mahed Group, I even had a KPI called "prepare your successor." Leadership is about elevating others, not protecting your seat.

Vision 2030 is transforming every sector in Saudi. What’s one shift you’re seeing today that wasn’t happening five years ago?

The rise of female leadership. It’s been incredible to witness. At Al-Mahed and other companies, I worked alongside talented Saudi women who were fast learners and deeply committed. In the last couple of years, I’ve seen more female finance directors and strategy heads at conferences and on leadership panels. When given the opportunity and support, they’ve truly flourished. That’s a powerful cultural shift.

Chats with Chief Future Officers

Top leaders in the Middle East discussing the future of finance

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