The Chartered Financial Analysts (CFA) Institute announced that of 25,766 June 2013 Level III candidates, 49 per cent passed final exam.

CFA Institute the global association of investment professionals that sets standards of ethics, education, and professional excellence, reported the Gulf Daily News.


It expects that the majority of candidates who passed the Level III exam will become CFA charter holders starting in early October, pending experience and membership requirements, bringing the number of charter holders worldwide to more than 110,000.

The UAE remains the biggest centre from the Middle East with 1,175 candidates sitting the exam in June, an increase of 3pc on 2012.

Saudi Arabia and Bahrain saw the biggest increase with 10pc more candidates sitting the exam in 2013 compared with 2012, followed by Qatar with 8pc.

Successful candidates have shown an on-going commitment to professional integrity, education and trust in finance and join the CFA Institute's effort to create an environment where investors' interests come first, markets function at their best, and economies grow.

"We are seeing strong growth in the main financial centres across the region, reflecting a continued drive to achieve international best practice as markets rebound following the global financial crisis," said CFA Institute Europe, Middle East and Africa managing director Nitin Mehta.

"A number of markets have been affected by the Arab Spring but it is encouraging that a significant number of candidates remain committed to getting their qualifications, despite the challenges they face.

"Overall we are confident with what we are seeing across the Middle East," he said.

"As the number of CFA charter holders working in the region's financial centres increases, the opportunities for economic growth and progress will be better leveraged, whilst adhering to the highest standards of ethics, education and corporate governance," he added. – TradeArabia News Service