As Oman's financial market continues to mature and grow, CFA Institute, the global association of investment professionals, last night hosted its first ever charter award ceremony in the Sultanate. Under the patronage of H.E. Hamood Sangour Al Zadjali, Executive President – Central Bank of Oman, 6 new CFA charterholders were presented with their awards.
Speaking of behalf of CFA Institute, Mr. Yacoub Husein Nuseibeh, President of CFA Emirates said:
"I would like to congratulate all new awarded charterholders on their success. It is also very important for Oman to have the very best professionals working within its financial industry as it continues to prosper and grow. We are delighted to host such event for the first time in Oman and to be able to see an increasing demand for a global qualification. "
He added: "The global financial crisis continues to drive the need for those working in the financial industry to get the very best professional qualifications representing global best practice, incorporating the highest standards in ethics, education and professional excellence. As Oman further develops its financial industry, we anticipate that the demand for more charterholders based in the Sultanate will increase."
Over the last five years, the number of CFA candidates based in Oman has grown substantially by 162 percent. There are now 65 charterholders and members based in the Sultanate, comprising portfolio managers, analysts, chief investment officers, chief executive officers, investment advisers, pension plan investment officers and senior financial consultants.
The CFA Program is a self-study program, considered to be the most rigorous credentialing program in the investment industry. The CFA curriculum is grounded in the practice of the investment profession and evolves with time. On average, successful candidates take four years to complete the self-study program and examinations to earn the CFA charter. In addition to passing the exams, candidates must also have at least four years of work experience in the investment profession, commit to abide by the CFA Institute Code of Ethics and Standards of Professional Conduct which is a commitment they must reaffirm each year to maintain the charter, and become a regular member of CFA Institute.
Speaking to guests, Dr. Hatem Al Shanfari, Professor of Economics & Finance, Sultan Qaboos University and Dr. Fabio Scacciavillani, Chief Economist, Oman Investment Fund also reviewed global market trends and gave presentations on the outlook for international and regional markets, and forecasts for select asset classes.