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CFA Kuwait congratulates new charterholders ‘Society seeks to maintain highest standard of professional excellence, integrity’

KUWAIT CITY, Jan 28: Last night the Board of CFA Society Kuwait, the local society of CFA Institute, the world’s pre-eminent association of investment professionals, hosted its sixth Annual Charter Award Ceremony. At the event, 24 new charterholders were handed their CFA charters by the chief guest Diraar Alghanim, Chairman of Kuwait Financial Center ‘Markaz’, in the presence of over 170 guests and society members. Over the last five years, CFA Society Kuwait has grown to be one of the most important CFA societies in the Middle East region. There are now [120] CFA members and charterholders in Kuwait. Members include portfolio managers, analysts, chief investment officers, chief executive officers, investment advisers, and senior financial consultants.

Congratulating the new charterholders, Diraar Alghanim, Chairman of Kuwait Financial Center ‘Markaz’, said: ‘We are living in the age of knowledge. Together, knowledge and education will help prepare our new charterholders to redefine Arab management and tackle the challenges that lie ahead.  Securing this qualification is a great achievement involving hard work and dedication.  Kuwait and the financial industry need the expertise of highly qualified professionals.’

Looking to the year ahead, Rafik Hafez, President of CFA Society Kuwait, said: “As we welcome our new charterholders into CFA Society Kuwait, we are proud of our continued growth. Consequently, the society has taken the lead in promoting thought leadership as well as discussing a broad range of topical issues in what has been a demanding year for the financial industry.  We continue to work on advancing the interest of the local investment community by promoting and maintaining the highest standards of professional excellence and integrity, contributing to the development of local capital market and professional skills, and actively promoting the CFA Program.”

“We have another exciting programme scheduled for 2014. We hosted our first annual National Investment Research Challenge last November, and the champions will represent Kuwait at the regional EMEA final in Italy in April. CFA Institute will be hosting its annual Middle East Investment Conference in Jordan in April. In June, we will have the next set of examinations for CFA candidates.” Guests at the ceremony were also given an outlook presentation from James Rickards, author and publisher of the bestselling book,’Currency Wars; The Making of the Next Global Crisis’. Rickards [It was my great pleasure to give a presentation to the CFA Society Kuwait on the future of the international monetary system and the implications of change for investors.

The role of the paper dollar, which has been the dominant international reserve currency since the end of the gold standard in 1971, is increasingly being called into question by Russia, China and the oil exporting nations. Possible replacements include gold-backed currencies, regional reserve currencies and new money backed by the IMF. Any reform of the international monetary system will have profound consequences for energy producers and investors generally.”

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