LONDON: The number of Saudis enrolling for chartered financial analyst (CFA) exams has jumped by a quarter — more than in any other Gulf state.
It coincides with a push to develop the Kingdom’s financial services sector as part of the Vision 2030 blueprint for economic and social reform.
CFA Institute, the global association of investment management, said that more than 250,000 candidates have registered for the upcoming Level I, II and III CFA exams — one of the most popular qualifications for investment professionals.
“Pursuing the CFA credential is a very rigorous process, with less than one in five candidates successfully completing the process to earn the charter,” said Paul Smith, CFA, president and CEO, CFA Institute. “We are gratified to see the record number of candidates willing to put in the work continue to grow each year. Especially in new markets around the world where finance plays such a vital role in building strong economies.”
The Middle East had a strong representation in the global mix, with 6,004 investment professionals from eight GCC and Middle East countries enrolling for the CFA exams — up 5 percent on last year.
Registrations grew by 21 percent in Egypt, 26 percent in Jordan and 25 percent in Saudi Arabia.
The UAE continues to see the largest number of new candidates in the Middle East, with 2,136 individuals registering for the exam.