Last night the President and Board of CFA Emirates, the association for financial and investment professionals, hosted its annual charterholder ceremony at the Burj Al Arab Hotel. 26 new charter holders were recognized in the presence of nearly 140 guests and society members.
The event follows publication by CFA Institute of its December 2010 Chartered Financial Analyst® (CFA®) Program Level exam results which showed a global pass rate of 36 percent out of a total of 46,644 candidates who sat the exam around the world.
The CFA Program is recognised worldwide as the gold standard qualification for investment professionals. To earn the CFA designation, candidates must pass all three levels of exams (for which successful candidates report that they study 250 to 300 hours for each one); meet the work experience requirements of four years in the investment industry; sign a commitment to abide by the CFA Institute Code of Ethics and Standards of Professional Conduct; apply to a CFA Institute society; and become a member of CFA Institute.
Commenting at the event on the 11 percent increase in the number of candidates who sat the Level 1 exams in UAE, Mr. Yacoub Husein Nuseibeh, President of CFA Emirates, said: ‘Despite challenging market conditions, the Middle East remains a dynamic and fast growing region. What is even more reassuring is that the Emirates continues to see year on year increase in candidates, reflecting our continued growth as a centre for financial and investment activity and underlining the importance for investment professionals here to secure the very best international qualifications.’
He added: ‘CFA Charterholders are obligated to adhere to a strict Code of Ethics and Standards governing their professional conduct and are distinguished by their integrity, professional excellence, and dedication to serving the needs of investors first. These qualities therefore enable those with a CFA designation to compete and succeed in the global investment community’.
Looking at the year ahead Mr Nuseibeh concluded: ‘2011 will be an interesting year for CFA Emirates. We will shortly be hosting our second annual Global Investment Research Challenge final where the champions will represent the UAE at the regional EMEA final in Spain. We will be also be hosting the CFA Institute Middle East Investment Conference in March where we expect up to 400 of the leading regional investment experts to attend . We will continue to have a number of presentations and exciting talks throughout the year as well as the next set of exams in June’.
