Global non-profit organisation of investment professionals, CFA Institute, celebrated 50 years of the Chartered Financial Analyst Programme by hosting a joint opening ceremony with Bahrain Bourse (BHB) on May 29.

Joining over 20 other cities including London, New York, Hong Kong, Mumbai and Singapore, Bahrain will be part of a series of events happening in major financial centres around the world, representing the greatest number of stock exchanges to be opened or closed by one organisation in a single day.

The ceremonies set the stage for this weekend, when more than 149,000 registered candidates from 168 countries will take the Level I, II and III CFA exams on June 2 and 3.

This includes an estimated 3,570 candidates from the Middle East who will take exams in Bahrain, Abu Dhabi, Dubai, Kuwait, Doha and Beirut.

The institute offered the first CFA examination in June 1963.  In celebration it has unveiled a new logo which symbolises the global community of investment professionals centered around a core of ethical best practice.

Speaking at the event in Bahrain, Khalil Nooruddin, president of CFA Bahrain, said: “Bahrain is taking its place alongside the world’s major financial centres in helping to celebrate the 50th anniversary of the CFA Programme. Today reflects not just what the institute has achieved over the last half century but also the important role it is taking in working alongside governments, regulators, exchanges and business in helping to grow and develop international best practice.”

“As the global economy continues to grow and mature, the current financial crisis has reconfirmed the importance of ethics, education and good corporate governance in the financial markets.”

Fouad Rashid, director, Bahrain Bourse, said: “We support the activities of CFA Institute and we appreciate their role in providing highly qualified professionals who will contribute to Bahrain’s position as a leading financial center in the region and bringing CFA Institute’s 50 years of experience to our local market.”

John D Rogers, CFA, president and CEO of CFA Institute, said: “The CFA Programme has grown tremendously since the very first exam, expanding to more than 100,000 charter holders who practice the highest level of professional and ethical standards.”

The original programme focused on equity security analysts in a US setting and emphasised ethical and professional standards.

Today, the programme represents a global context, and covers topics such as fixed-income analysis, alternative and derivative investments and portfolio management.

FAF leaders created the Institute of Chartered Financial Analysts in 1959 to administer the programme, and the two organisations merged in 1990 to form what is now CFA Institute. – TradeArabia News Service