Galadari’s strategic transformation or rebranding and expansion

Best Treasury Transformation Project

Highly Commended Winner

Galadari Brothers

Photo of Immad Khan, Mashreq, Muhammad Tauseef Ur Rehman, R V Ramanan and Pawan Balwani, Galadari Brothers.

Muhammad Tauseef Ur Rehman

Group Treasury Manager

United Arab Emirates

Galadari Brothers Co. L.L.C. are a conglomerate company based in the United Arab Emirates, established in 1960 and headquartered in Dubai, United Arab Emirates.

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The challenge

Galadari initiated a strategic transformation in 2023, which included rebranding and expansion into diverse verticals.

As a result, turnover increased approximately 400% in five years. Yet this growth exacerbated underlying issues – mostly stemming from a reliance on legacy processes and ERP systems.

Galadari had to address the following challenges:

Data manually drawn from different platforms led to unreliable information, resource-drain and visibility gaps.
The absence of ERP-automation necessitated manual approvals, increasing risk and processing times (including for payments).
Siloed payment management across verticals duplicated reconciliation efforts and fragmented reporting.
Decentralised banking model provided limited visibility, plus excessive resources spent managing 220+ accounts with 26 banks.
Cash/cheque heavy collections in certain verticals with manual reconciliation and branch visits created risk and drained resources.
For its automotive vertical, Galadari struggled to support growing demand for online purchases.
Working capital gaps in its heavy machine equipment vertical due to suboptimal payment terms/tenors.
Exposure to various currencies created earnings volatility, exacerbated by the absence of a standardised FX risk policy.

The solution

At the group level, Galadari worked closely with Mashreq to implement treasury solutions across multiple business verticals and support the group’s broader transformation agenda. Online banking channels were implemented to eliminate manual handling of cheque processes and speed-up transaction times.

A centralised treasury framework was introduced to enhance real-time cash visibility. While transactional, translational and forecast exposures were consolidated into a centralised FX risk-register, maintained by treasury.

At the business level, cheques are now processed digitally via bank warehousing agreement, using onsite scanners. Large-scale inbound payments for high-value products are now processed via cash deposit machines (CDMs).

Best practice and innovation

With multiple elements implemented simultaneously, the greatest implementation obstacle was project management. Centralising previously siloed ERPs required buy-in from vertical and group-level stakeholders. Moreover, aligning this in a short time required agile coordination. Adaptations had to be relayed to external stakeholders and managed without derailing timelines.

On the innovation front, several aspects of Galadari’s transformation are digitally progressive for a private organisation of its size focused on the Middle East region. For example, as part of the transformation, Galadari introduced a second-hand marketplace for used cars within its automotive vertical, using an online payment gateway. Such a model of purchasing has only emerged in the Middle East in recent years, so Galadari’s establishing a proprietary platform sets an innovative benchmark.

Another example of innovation is the trade financing solutions that Galadari introduced as part of its treasury transformation. These structures were customised based on the unique profiles of its buyers and suppliers, and were both first-of-their-kind facilities in this market.

Key benefits

Cost savings.
Headcount savings.
Improved visibility.
Manual intervention reduced.
Number of banking partners/accounts reduced.
Reduction in errors.
Return on investment.

With a history spanning more than 60 years, Galadari Brothers has become a trusted growth guardian in the Middle East for some of the world’s most admired brands.

Two elements of the transformation have had the most immediate business impact. First is the removal of manual processes: specifically, the centralisation of document management. This has streamlined approval processes, provided clear visibility over any pending documents, removed human error and introduced a new level of visibility, with historical data searches enabled.

Second has been the group-wide implementation of online banking. This has provided Galadari and its multiple brands with the comfort to process payments faster and more securely. This has streamlined operations, as it removed the previous issue of delays encountered due to signatories not being available.

With a future-ready treasury now in place, the brands under Galadari’s portfolio have enhanced confidence in the Group. The function is now more aligned with the current pace of growth – but also establishes the best foundation to accelerate future growth. With this security, Galadari’s relationships with its multiple brands have improved significantly. This in turn enables the brands to better serve end-customers.

Mashreq is a leading financial institution headquartered in Dubai, serving individuals and institutions across the UAE and key regional and international markets. With nearly six decades of heritage, Mashreq delivers digital-first, customer-centric banking across retail, corporate and investment banking, global markets, and wealth solutions. Guided by its purpose to help customers Rise Every Day, Mashreq is progressing its ESG agenda through responsible banking, inclusive growth, and robust governance.

www.mashreq.com | media@mashreq.com

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The Adam Smith Awards are the industry benchmark for best practice and innovation in corporate treasury. The 2026 awards attracted 635 nominations. To find out more please visit treasurytoday.com/adam-smith-awards

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