Winning students will represent UAE in EMEA regional finals in London

Dubai, United Arab Emirates, 17 March 2013 - Yesterday, students from the Institute of Management Technology, Dubai became the 2013 CFA Institute Research Challenge champions in the UAE. Hosted at the Shangri-la hotel in Dubai by CFA Society Emirates, the association for financial and investment professionals, the winning team beat other universities and will represent the UAE at the EMEA regional final, to be held in London in April.  The winners of the EMEA final will compete at the global finale, also to be held in London in April.

An estimated 60 people attended the final with three leading UAE Universities taking part.  This included the American University in Dubai, Institute of Management Technology, Dubai and Middlesex University Dubai.  Each sent a team of around three to five undergraduate or graduate students, all of whom are studying business investment and finance.

The CFA Institute Research Challenge, an educational competition for university students which allows participants to assume the role of investment research analysts, offers participants the opportunity to develop and present an equity research report, which was based on First Gulf Bank this year, and compete on a global basis with peers from top business schools.

Each team was mentored by an academic faculty member and a professional industry mentor. At the end of the process the team wrote a research report which they then presented to a panel of judges.  This year's panel included Abdul Kadir Hussain, CEO of Mashreq Capital, Richard Lee, Senior Equity Analyst at Emirates NBD Asset Management, Murtaza Salim, Senior Advisor to NBAD and Yacoub Nuseibeh, President of CFA Society Emirates.

In congratulating the winning team of the Institute of Management Technology, Dubai, Yacoub Nuseibeh, President of CFA Society Emirates said: "I want to thank all the students, their teachers and Universities for doing so well and for taking part. The winning team should be proud of their achievements in representing their University in the EMEA regional finals in London. We wish them well for this next stage."

He added: "The UAE remains the leading investment and financial centre in the region.   In order for us to maintain this position, we must continue to invest in our future. This competition is  further evidence of the continued educational work CFA Institute and CFA Society Emirates are doing to help support the investment professionals of tomorrow."  

About CFA Institute
CFA Institute is the global association of investment professionals that sets the standard for professional excellence and credentials. The organisation is a champion for ethical behaviour in investment markets and a respected source of knowledge in the global financial community. The end goal: to create an environment where investors' interests come first, markets function at their best, and economies grow. CFA Institute has more than 114,000 members in 141 countries and territories, including 102,500 CFA charterholders, and 137 member societies. For more information, visit www.cfainstitute.org.

About CFA Society Emirates
The CFA Society Emirates Society is an association of local investment professionals consisting of portfolio managers, investment advisors, educators and other financial professionals.  With 426 members, CFA Emirates is the largest member society in the GCC region comprising over half of the total number of CFA charter holders in the Gulf. The society also represents a majority of the 4,773 candidates from the region who took the CFA exams in 2009.  With CFA membership in the GCC anticipated to double over the next decade, a significant share of this growth is expected to be in the UAE.

For and on behalf of CFA Institute in the GCC and Middle East
Marcus Pepperell/Vadia Rai @ FTI Consulting
T: +971 (0)4 4372110
marcus.pepperell@fticonsulting.com / Vadia.rai@fticonsulting.com

CFA Institute EMEA (London)
Steve Wellard / Nicole Haroutunian (Europe, Middle East, Africa)
T: + 44 (20) 75330 9550/ 9551
steve.wellard@cfainstitute.org / Nicole.Haroutunian@cfainstitute.org

© Press Release 2013