In a landmark development, FBR has entered into an agreement with CFA Institute Virginia, U.S.A on 21st December, 2021 at FBR (HQs), Islamabad for provision of scholarships to its officers. The agreement has been signed by Chairman FBR/Secretary Revenue Division Dr. Muhammad.Ashfaq Ahmed and Mr Abdur-Rehman Warriach, President CFA Society, Pakistan, who represented CFA institute Virginia U.S.A.
It is pertinent to mention that CFA Institute is a global, not-for-profit professional organization that provides investment professionals with quality education in finance and accounting. It also aims to promote the standards in ethics, education, and professional excellence in the global investment industry. The organization offers certification in the Chartered Financial Analyst commonly known as CFA. It also offers Certificate in Investment Performance Measurement known as CIPM, in addition to the Investment Foundations Certificate.
Infact, CFA Institute offers scholarships for employees of financial regulators, central banks, securities commissions, stock exchanges and government entities engaged in public finance. Specifically, those public entities which oversee or regulate business operations, ensure implementation of SOPs of the investment management industry and also those which have entered into a program agreement with CFA Institute are accorded priority. It is important to mention that FBR had signed an agreement for scholarships in 2021 cycle with CFA institute that resulted into 10 slots for CFA scholarships last year for FBR officers. It is very heartening to share that in current cycle of 2022, CFA institute has already allocated 20 scholarships for CFA Program and also 10 scholarships, for the first time, are allocated for CIPM.
It is positively hoped that the above capacity building scholarship program will significantly contribute to enhancing the knowledge and skills of FBR officers who get selected to join the above said professional education courses under the CFA Scholarship Program through a merit based competitive process.
The MoU signing ceremony was witnessed by Ms.Sarwat Ahsan, Executive Director، CFA Society Pakistan, Mr.Qaisar Iqbal, Member FBR (IR-Ops), FBR, Barrister Nousherwan, Chief International Taxes, FBR, Asad Tahir Jappa, Director Media/Official Spokesperson, FBR and other officers.