This section is operated under the supervision of the Finance and Administration Manager.  It is divided into two sections:

Finance Section:-

• The Finance section works according to the international accounting principles and standards, which is known and accepted generally, and according to the approved accounting basis, which is applied at the International Holcim Company, Switzerland.

• The company keeps regular accounting registers using the accounting system and depends on A.D calendar for posting the accounts and issuing the financial reports.

• The Finance section depends on a documentary session using the procedures directory and the printed pre-numbered accounting documents.

• The financial procedures and the issuance of different financial reports especially in Yemeni Riyals as it is the local currency approved, are registered in the accounting registers. 

• The Finance section is adhered to issue monthly financial reports under the supervision of Holcim Trading S.A. – Spain.

• There are efficient accountants with high qualification and experience, working in the Finance section.  Periodical seminars and training courses are also carried out in order to furnish them with any new developments in regard to the finance and accounting issues so that to fulfill the work requirements.

• The company’s bank accounts are at the biggest banks in the Republic of Yemen: in Calyon Corporate and Investment Bank, Watani Bank for Trade and Investment, Yemen Commercial Bank, in both the local currency (Yemeni Riyal) and Foreign currency (US Dollar).

• The company’s product is sold to a large number of customers divided into two groups:

  • The first group consists of the customer of bagged cement

  • The second group consists of the customers of bulk cement.

The Finance section watches the account balances of those customers accurately in comparison to their credit limits and the bank guarantees submitted by them.

The company has also an approved policy in granting the customers the discounts and encouraging bonus and that is credited into their accounts regularly, monthly.

• The company’s requirements of the raw material and packing materials are made available from overseas huge companies such as:

  • Holcim Trading (the main exporter of the bulk cement)

  • Jordanian Paper Sacks Company (the main exporter of empty sacks)

• It is the responsibility of the finance section to make sure of the raw material and the packing material according to the supplier’s invoices and the reports issued by the production section.  It is also the finance section responsibility to settle the payment of these invoices as per the due dates.

• The company pays the entire financial obligations as per the law in force in the Republic of Yemen, such as:

• Salary tax, paid monthly according to the value of the monthly salaries

• Sales Tax, paid monthly according to the quantity and price of sales.

• Sports and Youth Fees, paid according to the imported quantity.

• City Improvement and Cleanness Fees, paid according to the quantity of sales.

• Cultural Fees, paid according to the imported quantity.

• Vocational Training Funds Fees, paid monthly according to the value of the monthly salaries.

• Customs Fees, paid according to the imported consignments of bulk cement and the empty sacks.

• The company makes her best effort to pay these fees to the government authorities, which in its return participate in building the society, and raise its standard.

• The company has a legal auditor permitted to work within the Republic of Yemen. He audits the company’s accounts and issues the Final Financial Statements and the tax declarations in time, according to the approved standards and law in force.

The Human Resources Section:-

• The human resource section makes all the workers and employees in the company well qualified and experienced through examining the good elements of them.

• The human resource section fulfills the necessary conditions of appoint for all the employees and workers and keeps them in their personal files updating them from time to time.

• The human resource section prepares the monthly reports of attendance, leaves and other rights of the employees.

• The company grants the employees and workers an annual allotment for treatment.  The human resource section observes the disbursement of this allotment.

• The human resource section prepares programs and the annual training plans for the purpose of raising the efficiency of the employees and workers and follow up its implementation.

• The human resource section implements several training courses in different aspects, such as:

• Courses in Techniques of computer.

• Courses in Marketing and Sales.

• Courses in accounting, financial audit and taxation management

• Courses for developing the executive skills and capacities

• Courses in the field of occupational health and safety

• Advanced courses in management for the top management

• Courses in English language

• Courses of abolishing illiteracy  for the employees and workers of ACE

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