(MENAFNEditorial) The Middle East Investor Relations Society ("MEIRS") announces the successful completion of the internationally recognized Certified Investor Relations Officer ("CIRO") training program and exam, held in Kuwait City, on May 23rd – 24th. The independent, not-for-profit society aims to enhance the reputation of the Middle East's capital markets through upholding international best practice across the investor relations ("IR") profession.
Oliver Schutzmann, Chairman of the Middle East Investor Relations Society, said, "Listed companies complying with international best practice IR are better positioned to attract the attention of global fund managers and institutional investors." The CIRO program is the only certified investor relations course throughout the Middle East and is conducted in partnership with the UK Investor Relations Society. In line with the rapid development of regional capital markets, the investor relations practice in the region is evolving and expanding fast across the GCC nations.
"The Investor Relations purpose is not only to create understanding of the company amongst the investment community, but also to help quoted institutions gain access to local and international capital markets, achieve liquidity, and fair valuation for their shares. All of this will have a positive impact on the Kuwait Stock Exchange liquidity and trading levels," said Mohammad Abdal, Chairman of the Kuwait MEIRS Chapter and Investor Relations, Corporate Communications and Governance Director of Zain Group.
"The investor relations practice in the region is still in its infancy stage and has enormous potential to grow, especially in markets such as Kuwait. With the support and dedication of all the regional MEIRS chapters I believe we can dramatically improve the current status-quo of the IR practice in Kuwait," added Abdal.
The upcoming privatization of the Kuwait Stock Exchange, expected in 2016, will further positively impact the capital markets in general. "Investor relations officers will play a major role during the upcoming transitional phase by taking the lead in developing the field so as to align to international IR best practices which will result in positive outcomes for both the companies and the investor community," continued Abdal.
A clear IR strategy will positively help the investor relations officer deliver fair valuation for the company's stock and reduce future funding costs. While this mirrors the objectives of the CIRO program,
membership with MEIRS further develops participants' education and provides information, training, networking opportunities, and career support.
In addition to Kuwait, the CIRO training and examination has also been conducted in Qatar and the UAE. A new series will be offered in Q3 2015 for professionals looking to obtain their accreditation.
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