CFA launches new certificate program
Dubai, January 9, 2013
CFA Institute, the global association for investment professionals and administrator of the CFA Program, has launched the new Claritas Investment Certificate course aimed at improving industry expertise and integrity following global financial crisis.
Claritas will complement CFA Institute’s existing CFA Program which awards the Chartered Financial Analyst (CFA) designation.
However it will not focus on investment professionals. Instead it will target a much broader range of employees working in the financial services industry outside of investment roles, said a senior official.
Currently 68 organizations and over 3,000 candidates from 17 countries around the world including the UAE as well as Australia, China, Germany, Singapore, the UK and the US, are taking part in a pilot program.
The first pilot exams are scheduled for late March. On completion of the pilot project Claritas will open for global registrations in May 2013.
John Rogers, the president and CEO of CFA Institute, said, "Building and maintaining trust in the financial services industry is at the heart of our mission at CFA Institute, and the Claritas was born out of our firm belief that clarity and knowledge will help achieve this."
"Claritas will enable those working across financial services to become more effective, knowledgeable and responsible professionals. This will benefit their employers, colleagues and society as a whole, as well as help support their own career development," he noted.
"At a time when the on-going financial crisis has undermined trust in financial services and left a vacuum which organizations, academics and regulators have struggled to address, CFA Institute firmly believes that there is a clear need for those who work in the industry to take visible action to restore its integrity and reputation," he added.
As per the CFA Institute Global Market Sentiment Survey 2013, investors agree that to restore integrity in the global capital markets, change must come from within. More than 65 per cent of respondents indicated that a lack of ethical culture within financial firms has been the biggest contributor to the decline in confidence.
Commenting on the new global program, Nitin Mehta, the managing director for Europe, Middle East and Africa, CFA Institute said the global financial crisis has created significant demand for greater transparency in the financial services sector, driven by improved education and ethics.
"As countries in the Middle East look to move from frontier to emerging markets, there is a real need to implement global best practice. Whilst the CFA charter remains the gold standard for investment professionals, our focus for Claritas is to become the industry benchmark for a broader range of people who work in the financial services sector in this region," he added.-TradeArabia News Service