KUWAIT CITY, April 6: Last night, CFA Society Kuwait, the local chapter of CFA Institute, the global association of investment professionals that promotes the highest standards of ethics, education and professional excellence, hosted its 8th Annual Charter Award Ceremony at the Salwa Al-Sabah Hall. At the event, 19 new charterholders received their CFA charters from Dr Moudi Al-Humoud, former minister of Education and Higher Education and President of Arab Open University in the presence of more than 130 guests and society members.
Congratulating the new charterholders, Dr Moudi Al-Humoud, Former Minister of Education and Higher Education and President of Arab Open University said: “We are living in the age of knowledge. Together, knowledge and education will help prepare our new charterholders to tackle the challenges that lie ahead. Securing this qualification is a great achievement involving hard work and dedication. Our objective is to ensure that Kuwait remains a leader in this pursuit of professional excellence, and abreast of the competitive and rapidly evolving investment management profession.”
Rafik Hafez, President of CFA Society Kuwait, said: “As we welcome 19 new charterholders into CFA Society Kuwait, we are proud of our continued growth as a centre for financial and investment excellence in the Kuwait. Despite challenging market conditions, it is very encouraging to see that financial professionals in Kuwait continue to dedicate themselves to the ethics, rigour, tenacity, and analytics at the core of the CFA Program.”
The ceremony was followed by an oil outlook presentation by Dr Jeffrey Brown, President of Facts Global Energy Group. During the presentation, Dr Brown commented saying: “Oil prices can dip as low as $25 per barrel this year, but rise to around $50 per barrel by late 2016 and to $60-80 post-2017. We continue to expect the oil price to increase, but not in a smooth fashion. The volatility will only end if OPEC, and specifically the Saudi Arabia, decides to intervene and keep prices within a band. That possibility is highly unlikely until sometime in 2017/18. We believe the intervention will come and when it does everyone will welcome it, but it is unlikely to happen this year.”
Looking at the year ahead, Hafez concluded: “Over the past 12 months the society has taken the lead in promoting thought leadership and discussion on a broad range of topical issues. The year ahead will be interesting for CFA Society Kuwait. We have another exciting programme scheduled for 2016; CFA Institute will be hosting its annual Middle East Investment Conference (MEIC 2016) in Bahrain in April where charterholders will hear from a range of global experts from a variety of professional and educational institutions about issues and topics affecting both the global and regional markets. Ahead of the conference, we will also unveil the findings of our Middle East Market Sentiment Survey, which provides market trends and insights of our regionally-based investment professionals, highlighting a broad range of economic, investment and employment trends currently facing investment markets in the Middle East.”
To earn the CFA designation, candidates must pass all three levels of the exam (successful candidates often report dedicating in excess of 300 hours of study per level); 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; and become a member of CFA Institute.