MANAMA: Mahmood Rafique, Editor: The 40-year record gains recorded by the US dollar against Euro and other countries last year may not hold grounds this year and expected to depreciate further later in 2023.
This was a crux of a panel discussion marking the annual forecast dinner held at the Royal Saray Resort on Saturday and attended by Shaikh Ahmed bin Mohamed Al Khalifa, Auditor-General as a Chief Guest and as Rasheed Al Maraj, Governor of the Central Bank of Bahrain as Guest of Honour.
The experts were of the view that the US dollar has already depreciated 10 per cent against Euro and this downward trend by the dollar likely to continue in 2023 as other global currencies will make further gains.
The GCC region’s economic outlook remains positive with Saudi Green Initiative to achieve net zero carbon omissions by the year 2060 and with half of Saudi energy needs to be met by the green energy by the year 2030, a giant step towards reducing the carbon footprint in the Kingdom.
CFA Society Bahrain, the local society of investment professionals, organised its 2023 Charter award ceremony on under the patronage of Shaikh Ahmed bin Mohamed Al Khalifa, Auditor-General of the Bahrain National Audit Office. The Charter Award Ceremony is organized annually to recognize the new Charter holders, who with immense hard work and effort, clear all three levels of the CFA exam and meet the relevant work experience
Shaikh Ahmed bin Mohamed Al Khalifa, Auditor-General graced the ceremony as Chief Guest and Rasheed Al Maraj, Governor of the Central Bank of Bahrain attended the event as Guest of Honour.
The patron of the ceremony and the guest of honour alongside the President of CFA Society Bahrain Dr Ali Al-Moulani, awarded the certificates to charter holders.
The award ceremony agenda included a global and regional financial and economic forecast. The growth opportunities and challenges facing the financial and banking sector were discussed including its remarkable contribution towards expanding the non-oil sector and speeding the national economy’s progress towards prosperity and sustainable growth.
Shaikh Ahmed bin Mohamed Al Khalifa, Auditor-General, congratulated the new charterholders on their great endeavours to obtain these high professional qualifications. He expressed his appreciation for CFA Society Bahrain’s tangible contributions towards the development of human capital in the investment filed particularly in managing investments, mitigating financial and investment risks, providing comprehensive investment strategies, and developing capital markets.
Rasheed Al Maraj, CBB Governor, also congratulated the charterholders, and wished them continued success in their professional career. He praised the role played by CFA Society Bahrain in promoting the certificate and doubling the number of charterholders which helped to elevate investment standards and practices in the Kingdom. He pointed out that the Bahrain market needed such highly recognised professional certification to forge new national competencies to support the development of the financial sector.
“We are pleased to graduate this new batch of charter holders who qualify for distinguished career opportunities through practical knowledge in the fields of investment and financial analysis. The society upholds its commitment of serving the financial sector by supplying the market with experienced human capital capable of managing investment with sophisticated financial acumen in accordance with the best ethical and professional standards,” Dr. Ali Al-Moulani, President of CFA Society Bahrain, said.
