الهيئة العامة للرقابة المالية

• FRA Committee reviews CFA analyses to evaluate performance and provide advice
• The meeting encompasses a review of the latest developments concerning continuing education and the promotion of professional excellence, particularly through the initiatives of the CFA Institute.

Dr. Mohamed Farid, FRA Chairman held a meeting with the two winning teams of the CFA Society Egypt Research Challenge, organized by the CFA Society. This engagement was part of their preparation for participation in the regional qualifiers for the Middle East, Africa and Europe (EMEA), with the ultimate goal of reaching the global final. Additionally, the teams will compete in the Middle East qualifiers scheduled for May. This meeting underscored FRA’s strategic vision of fostering robust communication and collaboration with diverse stakeholders within the non-bank financial sector. By nurturing the professional capabilities of individuals within this sector, FRA aims to solidify the foundation for sustainable reform and growth. This initiative seeks to enhance the sector’s competitiveness and amplify its contribution to the national economy.

The winning teams are the American University in Cairo (AUC) securing first place and the British University in Egypt (BUE) achieving second place. During the meeting, each team presented a detailed financial valuation report, employing fundamental analysis methodologies to determine the fair value of a publicly traded company’s shares.

During the meeting, the students delivered their presentations to a distinguished judging panel, which included Dr. Mohamed Farid, FRA Chairman, Dr. Islam Azzam, FRA Vice Chairman and Dr. Rehab Taha, Advisor to FRA Chairman.

The culmination of the annual Research Challenge in Egypt, held in mid-February, showcased the participation of eight prominent Egyptian universities—public, private and international where teams presented financial valuation reports (fundamental analyses) aimed at determining the fair market value of a selected company listed on the Egyptian Exchange.

Also present were Ahmed Abou ElSaad, President of CFA Society Egypt, Ashraf El-Khatib, and Vice President of CFA Society Egypt, along with representatives from the winning universities: Nada Hashem (AUC) and Dr. Rania Salem and Nesma Gamal (BUE).

Dr. Mohamed Farid, FRA Chairman was highly impressed with the students’ presentations, highlighting their mastery of the relevant skills, tools, and knowledge. He affirmed FRA’s unwavering commitment to implement measures and policies that elevate professional proficiency and cultivate new talent, recognizing their pivotal role in the sustainable development of the non-bank financial sector. Dr. Farid also encouraged the students to embrace lifelong learning to realize their ambitions, quoting, ‘One remains a scholar as long as one seeks knowledge, but falls into ignorance upon believing they have attained it all,’ and emphasized that the path to qualification and empowerment is demanding yet highly rewarding.

In addition, FRA Chairman underscored the strategic partnership between the Authority and key stakeholders to strengthen professional capabilities, thereby fostering the sustainable growth and competitiveness of non-bank financial markets.

Subsequently, Dr. Farid convened with the leadership of CFA Society Egypt to discuss their future development plans and strategies for amplifying the Society’s societal and economic impact, with a particular focus on developing the financial analysis skills of emerging professionals.

On the other hand, Ahmed Abou ElSaad, President of CFA Society Egypt expressed his appreciation for FRA’s sustained support and its crucial role in bolstering the efficiency and competitiveness of non-bank financial markets. He highlighted FRA’s contribution to provide diversified and innovative financing and insurance solutions, benefiting both individual and corporate market participants. He emphasized that the Research Challenge competition serves as a vital bridge between academic theory and practical application, playing a pivotal role in cultivating future investment sector leaders. Since its inception, the competition has successfully contributed to the professional development of over 200 Egyptian investment experts.

Moreover, Ashraf El-Khatib, Vice President of CFA Society Egypt provided an overview of recent developments at the CFA Institute, including the establishment of the “Research and Policy Center.” This center focuses on exploring the evolving landscape of investment and wealth management, sustainable investment and technology, with its latest publication being “Developing Voluntary Carbon Markets.” He also detailed the latest developments in the CFA Program, specifically the commencement of Level III examinations, which now feature three distinct specializations: portfolio management, private equity and wealth management.