DUBAI: Of 28,884 candidates who sat for the Level III CFA exam in June 2016, 54 percent (about 16,000) passed the third and final exam, says CFA Institute, global association of investment professionals.
Pending experience and membership requirements, these successful candidates will become CFA charterholders starting in early October and begin their journey as investment management professionals whose mission is to raise standards in the industry.
In addition, of 50,230 candidates who sat for the Level II exam in June, 46 percent were successful and of 58,677 candidates who took the Level I exam, the pass rate was 43 percent.
Globally, a total of 64,020 candidates passed Levels I, II and III, with the overall pass rate for all three levels at 46 percent.
In the MENA region, 3,726 candidates sat for the CFA exam in June, representing an increase of 8 percent compared to the previous year:
The UAE had the most number of CFA candidates in the region with 1,557 aspiring charterholders, representing an 11 percent increase from 2015.
Saudi Arabia had 482 candidates, 12 percent more than last year.
Bahrain (316 candidates), Qatar (170 candidates), Oman (97 candidates), Lebanon (387 candidates), Jordan (103 candidates) and Egypt (410 candidates), also saw increased levels of participation.
“Congratulations to the successful candidates who have demonstrated their commitment to the highest standard of professional knowledge and ethics,” said Paul Smith, CFA, president and CEO of CFA Institute.
“We applaud CFA Institute for its continued efforts to strengthen the professional and ethical foundations of our industry by upholding the highest standards in their certification process,” State Street Global Advisors’ CEO Ronald P. O’Hanley stated.
“The CFA designation is widely recognized as the gold standard of professional knowledge and business ethics in the investment industry,” said Yimei Li, CFA, deputy CEO, China AMC.
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