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The CFA Association of Pakistan (CFAAP) promotes ethical and professional standards within the investment industry, encourages professional development through the CFA Program, and facilitates the open exchange of information and opinions.
CFAAP currently has 133 members out of which 89% are CFA Charterholders and 11% are non-charter holders. While in-house financial analysts/portfolio managers constitute a 36% majority of the society, commercial bankers at 30% have also taken a keen interest in pursuing the CFA Program.
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CFAAP’s mission is to serve members and the investing public by providing regular fora to educate and enhance their investment skills, to increase awareness among employers and the general public of the value of the CFA designation and to promote the highest ethical standards, professional practices and standards of professional conduct in Pakistan.
To this end, CFAAP has undertaken several initiatives including:
- hosting seminars, workshops, panel discussions on issues affecting the capital markets
- conducting financial analysis and modeling workshops for analysts
- organizing the Annual Excellence Awards for various financial services in Pakistan
- tirelessly lobbying with the regulator (SECP)on governance issues, specifically Codes of Conduct and Analyst Certification Program
- arranging scholarships for deserving CFA candidates, and
- conducting exam-study preparatory classes for CFA candidates.
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Mohammad Shoaib, CFA as President's Council Representative
The CFA Association of Pakistan (CFAAP) takes great pride in announcing that its society President, Mohammad Shoaib, CFA has been elected as CFA Institute’s Presidents’ Council Representative (PCR) for the Asia Pacific region for the term 2008-2010. The Asia Pacific PCR will respresent 15 CFA societies across 14 countries in the Asian and Australian continents: Australia, New Zealand, Japan, Singapore, Hong Kong, Taiwan, Malaysia, Indonesia, India, Sri Lanka, Korea, Pakistan, Philippines and Thailand. It is indeed a great honour for CFAAP. Amongst other, PCR will serve the interests of Member Societies and their members, and may include improvements in programming, membership, outreach, communication, and other opportunities for enhanced society and member services.
CFAAP as GIPS Country Sponsor
In its recent meeting in Hong Kong, the Global Investment Performance Standards (GIPS) Executive Committee voted to acknowledge the CFA Association of Pakistan as an official sponsor of the Global Investment Performance Standards, or GIPS® standards, for the Pakistan market. The GIPS standards are well-recognized with high compliance levels amongst key financial centers in the United States, Canada, Europe, Africa and Asia Pacific. Global standardization of investment performance reporting gives investors around the world the additional transparency they need to compare investment managers and allows managers to compete for new business in foreign markets
Innovation Award for CFAAP
From amongst 132 competing societies, CFAAP was the winner of CFA Institute's Innovation Award in 2006; the only non-North American society to have won an award amongst the four categories of Planning, Collaboration, Innovation, and Rehabilitation. The award was conferred on account of CFAAP’s Annual Excellence Awards program, aimed at promoting global best practices amongst investment practitioners. The Annual Excellence Awards are the first of its kind initiative taken by any society of CFA Institute.
"Most Influential" Award for CFAAP President
CFAAP also had the honor of being the only non-North American society whose President, Mohammad Shoaib, has been recognized as “Most Influential” member by CFA Institute Magazine in 2006. CFAAP was also widely applauded by CFA Centre for Financial Market Integrity for the initiatives taken by the society leadership in the area of advocacy. |
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Deadline to Apply : 15th November 2008
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Congratulations to the following winners who will be guiding CFAAP through 2008-2009:
President - Mohammad Jawaid Iqbal
Vice President – Ashraf Bava
Secretary – Abdul Rasheed
Treasurer – Mohammad Saqib
Advocacy Chair – Mohammad Shoaib
Public Awareness Chair – Qasim Lakhani GIPS Chair – Mir Muhammad Ali |
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CFA Institute is a global, nonprofit member organization of financial analysts, portfolio managers, and other investment professionals.
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Investment Research Challenge
The CFA Institute has initiated a program called the Global Investment Research Challenge which gives students from the world's top business schools the opportunity to learn from industry experts and compete with their peers. The challenge teaches participants best practices in equity research through hands-on mentoring and intensive training in company analysis and presentation skills. Further details are available at http://www.cfainstitute.org/society/challenge/components.html
CFAAP is planning to organize a competition within Pakistan among a select few local universities. The winners of the local competition will advance to compete against teams within the Asia Pacific region, and the winners from various regional competitions will participate in a global finale competition.
CFAAP Team is looking for volunteers in the following areas:
- Project Head who will coordinate the entire project of local competition, including identification of universities, contacting them, selecting listed companies which will be the subject matter of the research report, contacting the companies and persuading them to co operate with various teams in the process.
- Mentors: Each team will be assigned a mentor who will supervise the work of the team and guide and advise them during the process.
- Panel of Experts who will be presented the findings and the research work by the teams and who will decide the winner of the local competition.
If you are interested in volunteering for any of the above roles, kindly contact us immediately at info@pakistan.cfasociety.org, identifying in the subject field one of the three roles outlined above.
ASIA PACIFIC INVESTMENT RESEARCH CHALLENGE
Codes of Conduct
A recent major break through in this regard was the introduction of the draft codes by the Securities and Exchange Commission of Pakistan (SECP). SECP invited comments from the general public on two separate drafts of codes of conduct. The first one relates to Analysts and the second to Asset Managers and brokerage houses.
The draft Codes are primarily based on the CFA Institute’s Asset Manager Code of Conduct and Research Objectivity Standards, and set out minimum standards for analysts, asset managers and brokerage houses in various areas. These include duties of due care, skill and diligence, qualification, adequacy of resources and procedures, information exchange with clients and its disclosure, compliance and controls and responsibilities of management.
Analyst Certification Program
SECP has also announced its intention to start certification exam requirement for fund managers, analysts and brokers which will be predominantly based on the CFA examination. This is a great breakthrough that CFAAP’s Advocacy team has managed to achieve, after constant lobbying with the SECP for more than two years. A phase-wise implementation approach for the Analyst Certification Program will be followed by the Commission.
In this regard, CFAAP has hosted focus groups with Analysts, Brokers and representatives from Asset Management Companies. The feed back from the focus groups, on the development of implementation guidelines, will be provided to SECP for further action. |
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CFAAP Members are conducting CFA Exam preparatory classes for Candidates. For further information you may contact Uroosa Girami. |
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