Successful Business in a Crisis: The Experience of Layal Haykal
Layal Haykal is an accountant from Lebanon who has invested a lot of effort and energy in developing the international company Euromena Group and shared her success story.
Layal said that the main reasons for her success were learning something new and improving her skills in all related areas. The ability to communicate and the vast experience accumulated over the years of work in the financial sector played a significant role here.
Layal Haykal built a brilliant career with the Euromena Group. Let’s learn how she did it.
Challenges building career in crisis
During her work at Euromena, Layal fruitfully collaborated with local DFIs (organizations that introduce new standards for developing the private business as the main instrument for economic recovery) and Lebanese and foreign LPs (Limited Liability Companies or Limited Partnerships) that worked with Euromena Group.
She was also involved in the most complex migration of data from companies that are part of the Euromena Group, from legacy FoxPro software to modern Visual Dolphin. This complex work required the utmost attention to detail and concentration since the slightest mistake could lead to unpredictable consequences.
Layal’s area of responsibility at the company included:
- Optimizing internal policies.
- Improving business processes and advising on tax policy.
- Minimizing risks for hedge fund investors.
Layal analyzed financial indicators, prepared reporting documents based on them, and long-term commercial forecasting. She was also responsible for financial modeling and the development of initiatives and policies for economic growth.
During the banking crisis in Lebanon, which began in October 2019 and continues to this day, Layal undertook to manage the company’s cash flows. During this challenging time, she had to monitor debts receivable carefully and control the flow of funds. The rapidly changing market demanded to react almost instantly, and Layal performed her duties flawlessly.
All this at a time when the movement in dollar accounts in Lebanese banks was limited, if not to say that it stopped altogether due to the global devaluation of the local currency – the Lebanese lira. The dollar, which local banks froze at 1507 lire per unit, was worth about 9,000 lire on the black market. Those who had the opportunity to sell lire bought dollars to maintain financial stability, thereby helping to reduce the volume of foreign exchange in the country and plunging the country into even more significant economic chaos.
Working in such conditions demanded the highest communication skills from Layal since the level of tension in the market was simply off the scale. However, it should be noted that these difficulties made Layal even more resistant to stress and further helped develop her innate ability to communicate.
At the same time, Layal was actively studying because she constantly improved her skills, which she had acquired in her childhood. She attended training, grew professionally, and tried to be an excellent example and motivator for colleagues in the company.
Summing up, it should be said that Layal is an example of a talented woman who has made herself and was able to achieve everything thanks to her high professionalism and perseverance in achieving her goals.
The Euromena Funds focuses on investments in banking, insurance, services, chemicals, pharmaceuticals and cosmetics, food and beverages, and operates primarily in the Middle East, North Africa, and Mediterranean countries.
The company was founded in 1981, and it is a global organization with branches on five continents and a spectrum of work in a wide variety of industries.
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