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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 151 members out of which 87% are CFA Charterholders and 13% 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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Planning Award for CFA Pakistan
From amongst 132 competing societies, CFA Pakistan was the winner of CFA Institute's Planning Award in 2008; 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 CFA Pakistan’s Strategic Planning. The Judges appreciated how Pakistan Society's business plan helped forced a change in the way society had previously been operating.
"The results are truly visible, as identifying issues within a society and findng proactive solutions is not small feat.Pakistan Society's award winning efforts are shining example of leadership, where thier work help lead the invesment profession globlally by setting highest standards of education, integrety, and professioal excellence. "
Mohammad Shoaib, CFA as President's Council Representative
The CFA Association of Pakistan (CFAAP) takes great pride in announcing that its founding President of the society, 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.
CFA Pakistan 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 CFA Pakistan
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 CFA Pakistan 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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Muhammad Zeeshan Khan Bawany |
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Shaher Yar Hashim |
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Munesh Kumar |
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Mahhadev Maheshwari |
Taha Muhammad Tayyab Maddam |
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Majid Meer Shaikh |
Anis Ahmad Gilal |
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Ali Jawahir Rizvi |
Jam Mudassir Abbas |
Muhammad Zamran Humayun |
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Shahid Ghafoor |
Muhammad Ali Khoja |
Syed Hassan Israr |
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Arooj Iftikhar |
Atta-ul-Haq |
Muhammad Akram |
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Saeed Ahmad |
Nasir Shamil |
Haroon Ahmed |
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Mohammad Nabeel Aslam |
Muhammad Kashif |
Yasir Iftikhar Abbasi |
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Colin Miranda |
Muhamad Iqbal Anwar |
Muhammad Farhan |
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Muhammad Akbar |
Khurram Javed |
Tanveer Muhammad |
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Modassar Iqbal Khan |
Faraz Ahmed Rizvi |
Yasir Ali Khan |
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Muhammad Nabeel Qazi |
Zubair Nawaz |
Arshad Khan |
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Masood Ali Khan |
Mehboob Hassan |
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If you have any questions or concerns please email at info@pakistan.cfasociety.org |
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Congratulations to the following winners who will be guiding CFAAP through 2008-2009:
President - Mohammad Jawaid Iqbal, CFA
Vice President – Ashraf Bava, CFA
Secretary – Abdul Rasheed, CFA
Treasurer – Mohammad Saqib, CFA
Advocacy Chair – Mohammad Shoaib, CFA
Public Awareness Chair – Qasim Lakhani, CFA GIPS Chair – Mir Muhammad Ali, CFA |
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INVESTMENT RESEARCH CHALLENGE
CFA Association of Pakistan conducted its first ever Local Investment Research Challenge (IRC) in Pakistan on January 16th 2009. The event was attended by CFA members, candidates, university students, faculty members and other industry professionals. IRC is an equity Research competition among student teams from Pakistan's top universities' business and finance programs. All prominent Universities were asked to participate in this challenge. Based on the extensive interviews 4 teams were selected for the challenge. These were Institute of Business Administration (IBA), Bharia University, Lahore University of Management Sciences (LUMS) and Shaheed Zulfiqar Ali Bhutto Institute of Science and Technology (SZABIST).
The teams were judged on their research reports and the presentations. Ms Mona Sultan, CFA EVP of MyBank Ltd was the project head of this challenge. Throughout the competition leading investment professionals volunteered as mentors, judges and panelist.
Engro Chemicals (ENGRO) was selected as the target company to conduct the Research.
Institute of Business Administration is the winning team of the Local Investment Research Challenge 2009. The winning team will now proceed to Singapore for Regional Investment Challenge in March 2009.
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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CFA Institute is a global, nonprofit member organization of financial analysts, portfolio managers, and other investment professionals.
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CFA Association of Pakistan
c/o Corporate & Investment Banking Group
Allied Bank Limited
2nd Floor, Khayaban-e-Iqbal, Main Clifton Road
Bath Island, Karachi
Ph: 021- 5868498
Email: info@pakistan.cfasociety.org
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