11% increase in UAE based candidates sitting Level I CFA examinations

UAE, 30th January 2011: 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'.  

-Ends- 

About CFA Emirates
The CFA 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.

About CFA Institute
CFA Institute is the global association for investment professionals. It administers the CFA and CIPM curriculum and exam programs worldwide; publishes research; conducts professional development programs; and sets voluntary, ethics-based professional and performance-reporting standards for the investment industry. CFA Institute has nearly 100,000 members, who include the world's 90,000 CFA charterholders, as well as 136 affiliated professional societies in 57 countries and territories. More information may be found at www.cfainstitute.org

Media Contacts
For and on behalf of CFA Institute in the GCC and Middle East
Marcus Pepperell/Vadia Rai @ FD
T: +971 (0)4 332 8832
Marcus.pepperell@fd.com / vadia.rai@fd.com  

CFA Institute
Steve Wellard / Nicole Haroutunian (Europe, Middle East, Africa)
T: + 44 (20) 7531‐0755 / 0766
steve.wellard@cfainstitute.org / nicole.haroutunian@cfainstitute.org 

© Press Release 2011