Zaheer Gafoor

QnA

What are your thoughts on finance professionals being seen as gatekeepers in finance for decision-making in other departments?

We are certainly gatekeepers, but we also play the role of enablers, supporting other departments to achieve their goals. Finance is essential in any organisation; you need a finance professional to launch a company, and they are usually the last to leave when it closes.

While being a gatekeeper is important, it is only one part of our role. I take pride in this responsibility, but we also have a broader mission to empower the business to thrive.

You oversee 15 companies across various sectors. How do you balance the unique needs of each sector while ensuring that the overall financial strategy remains aligned?

The challenges are unique across the sectors. For example, education has a completely different set of challenges compared to engineering and MEP, which have their own distinct difficulties. We have centralised the financial processes, and I have teams in different locations and companies, as we are spread across Abu Dhabi and Al Ain.

The key is having a very good team around me. I have about 30 to 32 members looking after the entire operations across various industries. I ensure that the teams are cross-trained so that those in education understand what’s happening in MEP and those in MEP have insights into manufacturing or the factories. This 360-degree understanding of our various companies is crucial in managing their different needs while keeping our overall financial strategy aligned.

How are you using AI or other digital tools in your work? What potential do you see for these technologies in finance?

The potential for digital transformation in finance is huge. We have seen a significant evolution from spreadsheets and manual processes to sophisticated ERP systems.

When I joined, we were using Tally, a basic accounting software, but we successfully migrated to SAP B1 and Focus based on the specific needs of each industry. Rather than using a single ERP system for all companies, we use tailored solutions, such as a digital platform in our schools that manages both financial data and other educational requirements.

This transformation has been gradual yet impactful. Our initial move from Tally to a more advanced ERP was just the beginning. We are now in discussions with JDOCS to automate our current manual forecasting and budgeting processes, which will enhance our capabilities with predictive analysis. While the transition may be slow, it is steadily moving in a positive direction.

What trends are you seeing in the finance space in the MENA region, and how do you think they'll shape the future of finance here?

I see a significant focus on AI and sustainability, especially with the issuance of green bonds from Masdar and FAB. We're heading in the right direction, with AI becoming an integral part of finance and sustainability being incorporated into financial strategies. 

However, we need some regulations in place. For AI to succeed, it also needs to be regulated effectively. It’s high time the UAE government steps up to provide guidelines for artificial intelligence to ensure its responsible integration into our financial systems.

Bio

Zaheer currently serves as the Finance Director at Dhafir Holdings LLC, where he manages the financial operations of 15 diverse companies across sectors such as Education, Engineering, MEP, Hospitality, HR Services, and Manufacturing. Over the years, he has played a key role in securing more than AED 100 million in project financing, streamlining cash flows, and driving sustainable growth.

In addition to his financial leadership, Zaheer plays an active role in Learning and development initiatives, leading ISO and UAE Tax compliance sessions. He also advises the Chairman on corporate ventures and personal investments, ensuring strategic alignment and growth across operations.

Zaheer is committed to driving innovation at the intersection of finance, AI, and digital transformation, enabling Dhafir Holdings to stay ahead in an ever-changing competitive landscape.