Strategic Consultant
Starting December 1, 2025, Iraq's Central Bank will mandate a Prior Declaration System for imports, enhancing financial transparency and combating fraud. The system links goods with financial transactions before currency transfers, improving customs revenues and modernizing trade. Importers must precisely document and coordinate with banks and customs to comply with new requirements.
Synthetic Phishing utilizes AI-generated deepfakes and synthetic identities to execute highly convincing scams, posing an urgent threat to India's digital payments system. This new form of deception exploits trust and bypasses traditional security, especially targeting the instantaneous, irreversible nature of UPI. Banks, regulators, and users must upgrade defenses and digital literacy to protect the nation's financial future.
In every transformation I’ve lived — from Aligarh’s curfew-shadowed lanes to Iraq’s rebuilding boardrooms and the digital corridors of the Middle East — one truth stands out: every “homeless” problem eventually lands on the CFO’s table. Not because Finance seeks control, but because it alone holds the clarity, coherence, and courage to connect the entire enterprise.
The decoy effect is a marketing strategy where an intentionally unattractive option is introduced to steer consumers toward a desired choice. By comparing options, consumers often make decisions based on perceived value. Behavioral economist Dan Ariely demonstrated this through subscription plans. The decoy effect is prevalent in various markets, making certain products appear more appealing. Awareness of this effect can help consumers make more informed choices and regain control over their purchasing decisions.
The latest BIS International Banking Statistics reveal significant trends in global finance for Q1 2025. Cross-border bank credit reached a record $34.7 trillion, driven mainly by a 14% growth in lending to non-bank financial institutions (NBFIs). Emerging markets received $100 billion in new credit, reflecting investor confidence. Additionally, foreign currency credit grew, with notable increases in euro credit. Analysts should reassess risk models and monitor economic fundamentals and geopolitical factors for sustained growth.
Recent geopolitical shifts indicate a potential alignment between the US and Pakistan, particularly regarding oil, which is primarily seen as a strategy for regional stability rather than direct energy supply. China's investment in Pakistan underscores this complexity, as it intensifies strategic ties through the China-Pakistan Economic Corridor. Additionally, India's assertive economic strategy challenges traditional power dynamics, emphasising a multipolar world where nations manoeuvre for influence, revealing the nuanced intricacies in global relations.
During the 1970s in Japan, tea was the leading beverage, while coffee struggled to gain acceptance, despite Nestlé's strong marketing efforts. To address this challenge, Nestlé brought on psychoanalyst Clotaire Rapaille, who proposed focusing on children to create a positive link to coffee. The company introduced coffee-flavoured snacks, gradually introducing a generation to the drink. By the 1980s, this approach turned coffee into a cultural mainstay and contributed to Nestlé's success in Japan.
In modern business, the CFO's pivotal role in ERP implementation often goes unrecognized. Beyond budgeting, they define ROI, align ERP objectives with strategic goals, manage risks, and guide vendor selections. Their involvement extends to designing processes, ensuring compliance, validating functionality, and promoting change management. Post-launch, they monitor financial metrics, track ROI, and drive continuous optimization, making the CFO essential for successful ERP integration.
In the current complex business landscape, the CFO role has evolved into a strategic leadership position requiring deep financial expertise, risk management skills, strong stakeholder relationships, and capital markets knowledge. Experienced bankers, due to their background, excel in these areas, providing insights that align financial strategies with broader business goals. Their capability in crisis management, regulatory compliance, and effective communication further positions them as ideal candidates for the CFO role.
The Himachal Pradesh State Co-operative Bank suffered a major cyber fraud, losing ₹11.55 crore due to hackers compromising a customer's mobile phone. The attack involved installing a malicious app that enabled unauthorized access to the bank's systems, resulting in significant high-value transactions. This incident raises urgent concerns about cybersecurity in financial institutions, highlighting the need for improved defenses, employee training, and proper budgeting for security measures to protect customer trust and prevent operational disruptions in the future.
Indrajit Roy Choudhury 