Rahif Al Jarkas, Finance Director at BUNA Holding explains how disciplined governance ensures BUNA’s financial strength and agility.
In this exclusive Saudi Projects interview, Rahif shares insights into how financial foresight and disciplined governance are helping BUNA thrive in one of the most dynamic construction markets in the world.
Rahif Al Jarkas, Finance Director at BUNA Holding, plays a key role in steering the company’s financial strategy, overseeing rigorous compliance protocols, and driving efficiency across its operations.
Rahif Al Jarkas’s role at BUNA Holding exemplifies the critical importance of robust financial stewardship in the success of large-scale construction firms. His ability to blend strategic planning with operational oversight ensures BUNA remains financially sound, compliant, and primed for continued growth. As Saudi Arabia enters a new era of infrastructural development, professionals like Rahif are laying the financial foundations upon which the Kingdom’s future is being built.
SAUDI PROJECTS: Can you tell us about your role as Finance Director at BUNA Holding and how it contributes to the company’s broader strategic goals?
RAHIF AL JARKAS: As Finance Director at BUNA Holding, I play a crucial role in shaping financial strategy and ensuring long-term stability. In addition to overseeing day-to-day operations, we focus on regulatory compliance and implementing policies to safeguard company assets.
SAUDI PROJECTS: Financial forecasting and budgeting are key aspects of your responsibilities, what tools or methodologies do you rely on to ensure accuracy and agility in these processes?
RAHIF AL JARKAS: Forecasting and budgeting rely on a mix of methodologies and tools to ensure accuracy and adaptability. We tailor our forecasting based on business sector, market size, and the expertise we have in-house.
SAUDI PROJECTS: How do you approach risk management in a fast-paced industry like construction, where cost overruns and delays can significantly impact the bottom line?
RAHIF AL JARKAS: Risk management is essential in construction. We use ERP systems and project planning tools, enforce clear contract terms to allocate risks, and continuously monitor project milestones to proactively identify and address issues.
SAUDI PROJECTS: What steps do you take to ensure full compliance with Saudi Arabia’s evolving financial regulations and reporting standards?
RAHIF AL JARKAS: We stay current with all regulatory updates and review internal controls regularly. If any weaknesses are identified, we act promptly. Technology also plays a critical role in maintaining compliance.
SAUDI PROJECTS: Overseeing audits is a core part of your role. How do you maintain transparency and accountability across such a large and diverse organization?
RAHIF AL JARKAS: We follow a structured audit strategy, ensuring auditors maintain independence. We also have an audit committee that oversees financial reporting and internal controls, reinforcing credibility.
SAUDI PROJECTS: In terms of strategic financial planning, how do you align BUNA’s long-term investment decisions with market trends and national development initiatives?
RAHIF AL JARKAS: Since the launch of Vision 2030, we have monitored economic indicators, industry shifts, and emerging technologies to guide investment decisions. Aligning with government initiatives ensures sustainable growth.
SAUDI PROJECTS: How have rising material costs, global supply chain challenges, or economic fluctuations influenced your budgeting and forecasting over the past year?
RAHIF AL JARKAS: These challenges have negatively impacted budgeting and forecasting. We’ve adapted by adjusting cost projections and adopting agile financial planning to improve accuracy.
SAUDI PROJECTS: What role does digital transformation and automation play in BUNA’s financial management and reporting functions?
RAHIF AL JARKAS: Digital transformation is a game-changer. It enhances efficiency, accuracy, and supports better strategic decision-making.
SAUDI PROJECTS: How do you work with other departments, such as project management and procurement, to ensure financial discipline without compromising project delivery?
RAHIF AL JARKAS: We collaborate closely with all departments. This synergy ensures we maintain financial discipline while supporting smooth project execution.
SAUDI PROJECTS: Finally, what advice would you give to young finance professionals who aspire to lead the financial operations of major construction firms in the Kingdom?
RAHIF AL JARKAS: Master the fundamentals of financial planning, budgeting, and risk management to understand projects fully. Stay updated on local regulations and global financial technologies relevant to the construction industry.
Rahif Al Jarkas continues to reinforce BUNA Holding’s position as a financially disciplined, growth-driven organization. His insights demonstrate how strategic planning, compliance, and technology combine to drive long-term success in Saudi Arabia’s evolving construction landscape.
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