Visionary Leader in The Finance Sector

Davis Kallukaran

Managing Partner, Crowe Oman.

From humble beginnings in Kerala, India, to becoming a celebrated figure in Oman’s financial industry, Davis Kallukaran’ s journey is marked by perseverance, innovation, and a commitment to excellence. As the Managing Partner of Crowe Mak Ghazali in Muscat and the Deputy Chairman of the Foreign Investment Committee at Oman’s Chamber of Commerce & Industry, Davis has made significant contributions to the region’s business landscape. His leadership and strategic foresight have been instrumental in establishing Crowe Oman as a trusted firm in the fields of auditing, taxation, and business advisory.

Hailing from Thrissur in Kerala, Davis Kallukaran experienced a childhood of constant relocation, attending 10 different schools across the state. This upbringing, shaped by his father’s job with the Life Insurance Corporation of India, introduced Davis to the challenges of adapting to new environments. This resilience and flexibility later became valuable traits that helped him navigate his career.

Mr. Davis pursued his undergraduate studies in commerce, earning a Bachelor of Commerce (B. Com) degree from St Thomas College Thrissur. This foundational education provided him with essential knowledge in accounting, economics, business management, and finance, laying the groundwork for his future endeavors. His academic journey did not stop there; he continued to build on this foundation by pursuing professional qualifications in chartered accountancy. Soon after his graduation, young Davis was offered a job in New India Assurance with a good compensation. But his dad advised him to continue with his CA course, instead of taking up a job. On first of August, 1978, Mr. Davis joined the firm Abraham & Jose, Chartered Accountants Thrissur, to register for CA articleship that took almost a year to materialize. Meanwhile, within three weeks of joining the firm, Davis was elected to be the secretary of the Chartered Accountants Students Association of Trichur, which was a significant turning point in his life many years later.

Those days Students of Chartered Accountancy used to travel to Madras to attend professional coaching classes being conducted at the headquarters of the Southern India Regional Council (SIRC) of the Institute of Chartered Accountants of India at Nungambakkam, Madras.  The ICAI, Madras had the best faculties in India. The Thrissur CA student’s association used to bring eminent faculties from Madras to conduct coaching classes in Trichur itself which was a good saving for the students. During the tenure with the association, Davis had established excellent relationships with the faculties from Madras, with the result he replicated the same style of Coaching sessions where ever his family moved to (Palghat and later to Calicut). On completing the CA Intermediate examinations, Davis joined M/S Best & Crompton Ambattur Foundry as a works Accountant which he discontinued later on to pursue his CA final examinations.  1985, Mr Davis qualified as a chartered Accountant and set up practice in Calicut (Kozhikode). More than the office work Davis was actively involved, in the social activities in the Rotary Club, the Calicut Chartered Accountants Association and in his Parish Church activities. Towards the late 80’s Mr Davis was holding multiple positions as the President of CA association, Secretary of Rotary Club of Calicut East and as the Trustee of the Amalapuri Parish Church, Kozhikode.

Davis’ ambition and drive to explore new opportunities led him to the Middle East, where the economy was rapidly expanding and in need of skilled financial professionals. In 1990, Davis made a pivotal decision to explore opportunities in Oman. Encouraged by his cousin working in the oil industry, Davis took a bold step by moving to Muscat. Initially, he worked as an accountant in Muscat, gaining crucial experience before founding Ghazali Mak and Associates in 1995.
In collaboration with Mak and Associates from Dubai and Omani national Muna Bint Abdullah Al Ghazali, Davis helped establish the firm as a leader in Oman’s financial sector. Over the years the firm evolved and since 2008 has been a member-firm of Crowe Oman, one of the top 10 global accounting network.

Mr. Davis Kallukaran has made significant contributions to the fields of accounting, auditing, and business consulting in the Sultanate of Oman and the broader Middle East. With a career spanning several decades, Davis Kallukaran’ s journey is marked by his commitment to excellence, integrity, and innovation in the financial services industry.

Under Mr. Davis’s leadership, Crowe Oman quickly established itself as a trusted name in the financial services industry. The firm set up the Al Ghazali economic & Business consulting and shortly Al Ghazali Software solutions llc. In 1998, the firm set up a training division for developing professional accountants by imparting training for American qualifications of CPA, CMA, CFM, CIA under the franchise agreement from Lambers of the United States. Off late Crowe Oman offers wide range of services, including auditing, taxation, advisory, Forensic and technology and Hotel, travel and Leisure consulting, catering to a diverse clientele, including multinational corporations, government entities, and local businesses.

The integrity of Crowe Oman team and their sincerity in following the firm’s core values, ‘Care, Share, Invest & Grow’, has enabled it to get accreditation, to audit companies regulated by the Capital Market Authority (CMA). This strong and developing relationship with CMA, has made it one of the eight members on the CMA Technical Advisory Committee and one of six firms partnering with CMA in the Taheel Initiative. Crowe Oman is statutory auditors to numerous listed companies in the Sultanate of Oman, and provide risk advisory and management consultancy services to many SAOG, SAOC and other prestigious privately owned Omani companies/groups. Crowe Oman’s clientele include Banking & NBFCs, Mutual Funds, Money Exchanges, Manufacturing, Oil & Gas, Healthcare, Hospitality, Contracting, Trading, Retail, Professional Firms and many more.

In 2006, the world’s largest antifraud organization, the Association of Certified Fraud Examiners (ACFE) incorporated in the United States, awarded the Certified Fraud Examiner credentials to Mr. Davis. CFE’s are knowledgeable in four areas critical to the fight against fraud: Fraudulent financial transactions, Criminology & Ethics, Legal elements of fraud and Fraud investigation. The ACFE’s board of Regents awards this designation only to select professionals who meet a stringent set of criteria, including character, experience and education.  According to the Board of Regents, Mr Kallukaran has successfully met these criteria and joins the ranks of CFE’s worldwide. Davis is the Founder Director and is the past President of [ Oman Chapter of The Association of Certified Fraud Examiners.

The Institute of Chartered Accountants of India nominated Mr. Davis to the International affairs committee of the ICAI council, New Delhi 2007-08. In the following year, Davis facilitated the signing of the Memorandum of Association between the Institute of Chartered Accountants of India and the College of Banking and Financial Studies (CBFS) of the Sultanate of Oman, to set up the Muscat Chapter of the Institute of Chartered Accountants of India. Davis was nominated as the Founder Chairman, of Muscat Chapter of the Institute of Chartered Accountants of India 2008-09.

In 2014, Crowe Global, the top ten accounting network in the world, bestowed the ‘Pinnacle Award’, the highest award of recognition on Mr. Davis for his outstanding contribution to the accounting profession and to the network globally at the annual global conference held at the Opera Hall of the Intercontinental Le Grand Paris hotel, attended by 350 delegates from 70 countries.

Mr. Davis’ hard work has not gone unrecognized. In 2019, Mr. Davis was presented The Oman Business Leader of the year Alam al-Iktisaad Wal A’mal Award 2019 by His Excellency Sheikh Khalid bin Omar al Marhoon, Minister of Civil Service, the Government of the Sultanate of Oman, in recognition of his distinct achievements in the corporate sector, leading the business on growth path, outstanding leadership skills and serving the interests of the Sultanate of Oman with great distinction.

In 2020, Crowe was bestowed with The Alam Al Iktisaad award for 25 years of Excellence (1995-2020) in Audit, Tax and Advisory services in Oman, by His Excellency Qais Al Yousuf, the Minister of Commerce, Industry and Investment promotion of the Government of the Sultanate of Oman. In the same year, Crowe Oman was awarded the Best Audit and Tax advisory firm in Oman by Global Banking and Finance Review, London and Mr Davis was awarded the Oman CEO of the year 2020 for his outstanding leadership in driving the growth of the firm.

Lately in 2022 Mr. Davis and few business people founded The Indo Gulf Middleast Chamber of Commerce, (INMECC), an NGO incorporated in India with Chapters in UAE, Saudi, Kuwait, Oman and across India. In 2023, in the spirit of the joint communique issued by the Commerce and Industry ministers of India and the Sultanate of Oman in Delhi, a MOU was signed between the Oman Chamber of Commerce and Industry (OCCI) and The Indo Gulf Middleast Chamber of Commerce and Industry (INMECC) to set up the INMECC chapter in Oman and to work jointly in Oman to pursue the objectives of the Chambers. Mr Davis is the Founder Director of INMECC.  In 2023, Davis was nominated as the Deputy Chairman of the Foreign investment committee of Oman Chamber of Commerce and Industry.

He has Co-authored a book on Taxation of Non-resident Indians.  He is also a regular columnist for the Times of Oman, Muscat Daily and Oman Observer on Tax related matters.

Mr. Davis is married to Elizabeth, an accomplished artist who has held solo exhibitions of her paintings in Jehangir Art Gallery in Mumbai, David Hall in Cochin, apart from participation in various exhibitions in Oman, Dubai and India. Her sketch book titled “KIKI GOES TO CORNICHE” is displayed at the special collection section of Sheikh Mohamed Bin Rashid Library Dubai. The couple has three sons. The eldest, Antony Kallukaran is an ACCA and Tax Partner at Crowe Oman. The second son, Varghese Kallukaran, is an Engineer and a Postgraduate in Business Management and is a strategy consultant working in Dubai. The third son, Paul Kallukaran, is an IT engineer and is in charge of technology at Crowe Oman office
Mr. Davis Kallukaran’ s career is a testament to the power of hard work, innovation, and ethical leadership. Through Crowe Oman, Davis has built a legacy of excellence, leaving an indelible mark on the industry and contributing significantly to the Sultanate’s economic growth.

 

Contact Information

Level 5,The Office, Al Khuwair
P. O. Box,971,Postal Code 131
Muscat, Sultanate of Oman
Phone :Office 00968 2403 6300,
Email :davis. Kallukaran @Crowe.om,
www.crowe.om