MUSCAT, 20 February 2012 - BankMuscat, the flagship financial institution in the Sultanate, was felicitated at the first Chartered Financial Analyst (CFA) Charter Award ceremony hosted by CFA Institute, the global association of investment professionals, under the patronage of H.E. Hamood bin Sangour Al Zadjali, Executive President of the Central Bank of Oman.
BankMuscat received special recognition for being the largest employer of CFA Charter-holders in Oman with over 30 per cent of Charter-holders working for the Bank. Ahmed Al Abri, Chief Operating Officer, received the award from H.E Hamood bin Sangour Al Zadjali. Abdullah Al Hinai, Deputy General Manager, Investment Banking, was given a special memento for being the first Omani Charter-holder to receive the Charter over 12 years back.
Recalling the experience, Abdullah Al Hinai said: “When I started the CFA programme, I was not aware that I could become the first Omani to receive the CFA Charter. My aim was to specialise in Investment Banking and the CFA Charter is reckoned among the most challenging qualification for it. The CFA programme covers a wide range of subjects, including accounting, ethics, corporate finance and portfolio management, which require serious dedication and commitment. I am honoured to receive this recognition and I am grateful to BankMuscat for the encouragement and motivation to challenge ourselves and achieve prestigious academic recognitions."
Two BankMuscat staff - Abbas Al Lawati and Abhay Kadaskar - were among the six new Charter-holders who received their Charters on the occasion. In addition, Ankit Dixit was specially recognised for having passed the examinations successfully.
Over the last five years, the number of CFA candidates based in Oman has grown substantially. There are now 39 charter-holders and members based in the Sultanate comprising chief executive officers, chief investment officers, portfolio managers, analysts, investment advisers, pension plan investment officers and senior financial consultants.
The CFA programme is a self-study programme considered to be the most rigorous credentialing programme in the investment industry. The CFA curriculum is grounded in the practice of the investment profession and evolves with time. On average, successful candidates take four years to complete the self-study programme and examinations to earn the CFA charter. In addition to passing the exams, candidates must also have at least four years of work experience in the investment profession.