Ask Your Questions

Every day I receive many questions from people on many topics include career growth, education strategy, finance, economics and what not. I try to answer pretty much every single question I receive. However, to make things easier for me to track and to help other people see what questions are asked, I have decided to make this dedicated page.

I will basically try to answer every single question that I get provided it is within my knowledge and its relevant to this blog. To incentivize intelligent question I have decided to compile all good questions and post it within my blog along with the name of the person asking the question.

Thanks everyone for the support I am getting.

351 thoughts on “Ask Your Questions

  1. Hello Asif Vaia,
    I thought its better if I ask the question here. You were in the same position as I am today. I am majoring in Finance and Economics, may be you did the same as well. So you must have a better idea of what I should do now.
    My question is, what would be the better thing to do for me? Masters in Finance or Economics, or should I try CFA? How are these two different from each other and what can provide better career opportunities for me in the future?
    And, how can I prepare for CFA exams from now? For your record, I am in my 5th semester and have only done FIN 254 (Intro to Financial Management), so I know its a long way to go. But can you give me some tips to have a perspective while learning the concepts of Finance which might help me in cracking the CFA exams? And give me some general career tips that I should keep in my mind right now!!
    Thank you
    Regards
    M Miftah Ul Alam

    1. Hi Miftah,

      Thank you for being the first one to ask the questions. I will post the question and the answer in a separate blog post later on.

      Q. MS in Finance/Economics vs CFA?
      A. Basically if you want to go to the academic line MS might be more useful. If however, you prefer to become a professional then CFA is definitely the right choice. Again another consideration is which University you are going for. If its not a top rated university (for MS) then CFA might be a better option IMO.

      Q. How can I prepared for CFA now that I am in Second year?
      A. For now you just need to focus on your finance, statistics, economics and accounting courses. You can also check out this video which will help you gain a wide amount of knowledge in just about any subject.

      Q. What are some general career tips?
      A. I will prepare a whole series on career development. But for now work on presentation skills, communications skills and dress up. Try to do superb work in your reports and presentations. Help out your fellow classmates as much as possible. And finally, NETWORK NETWORK NETWORK. Know as many people as possible and maintain a contacts database. Google contacts help.

  2. Hello Asif Vai,
    Need some suggestion. Right now I am working for International NGO as a Finance Executive. But In future I want to build my career in Investment Bank. Right now I am perusing CFA. Currently I am CFA level 1 Candidate for June 2014. I passed BBA two years ago. I am thinking of starting MBA. Now my question is which university I should choose for my masters? And which masters degree will suit more for Investment Banking, MBA or MS in Economics?
    Thank you.
    Shaun.

    1. If you are doing the CFA program then there is no need for any other degree at the moment. However you need to build your contacts and get as much knowledge as possible to be able to break into the industry.

      1. Tnx Asif vai. But vai I already faced questions like “Why you did not enrolled in MBA or any Master’s degree program?” in interview session with two investment Banks. That’s why I decided enroll in Master’s degree program. Now vai will you please suggest me which Degree I should choose MBA (Major in Finance) or MS in Economics.
        Tnx.

  3. waht is defered tax in the context of CFA…is there ary institue or exam center in Bangladesh to take the test or would it be better to take the tast in usa

    1. The concept of deferred tax in CFA and Accounting is exactly the same. It refers to taxes recognized on the income statement even though they are not paid in cash terms because of different accounting treatment for taxable income and profit before taxes used for reporting purposes. This is a chapter which you should read from the CFAI books.

      You should definitely take the exam in Bangladesh.

  4. Asif Bhai,
    What is the prospect of CFA charter in Bangladesh? What is its future here? Hows the scope of a Bangladeshi CFA charter at USA, Australia and Middle East? How much salary one must expect to get as a CFA charter in Bangladesh and at abroad? Hows the job scope when one has passed only Level 1? Thanks.

    1. I think the prospect is definitely bright. This country of 160mn people has only a handful of CFA Charterholders. As for other countries it depends on job market. However, I can surely say that its a degree quite recognized and respected globally.

      As for salary even though surveys say that having a CFA can increase your salary there is still a wide range. Salary does not depend on the degree. It depends on how good you are and how much money you can make for your company. Don’t expect companies to jump for you if you pass level 1. To be able to land a good job you need a lot of other skills like communication, presentation etc.

  5. Hello Asif Bhai,
    I am currently in 9th Semester in NSU. My major is Accounting and Finance. I am done with most of my major courses. Last semester, I did ECO 203 course and did not get my expected grade. Besides, I hardly learned anything from this course because of the poor communication skills of the faculty. So, I have decided not to do minor in Economics. Now, I have decided to minor in International Business. I also wanted to do concentration in ACT & FIN but because of lack of good faculties in NSU I have decided not to do concentration. I have the desire to pursue professional degrees like ACCA, CFA, CIMA. Can you please tell me from where I should start. Also, if I want to do MSc in Finance and Accounting which country will be better? Your help will be highly appreciated.
    Regards
    Ashiq

    1. Hello. I don’t understand why you would want to change minor because one teacher was bad. In life you will have to face so many other problems. However, if you do not like economics in general then its okay.

      Before choosing which professional degree to study try to figure out whether you want to work in accounting or finance. Again in accounting whether you want to be a financial reporting guy or a managerial guy. Your end target will give you better direction on which degree to study for.

      1. Asif Vai, there is always a confusion to decide what kind of accountant someone wants to be- Financial or Managerial ! You see, we hardly know how to decide doing only university courses. The thing we need to know the prospects of these two types of accountants both in Bangladesh and at abroad. So, vai please describe the scopes of Financial Accountant (CA / ACCA) VS Managerial Accountant(CIMA / CMA). Thank you.

        1. It would be better if someone with accounting background answered this question. However, my logic is very simple. Study which one you would enjoy more. Go through the syllabus of the two. Go for whichever you like more as both of them are quite good.

          1. Just in case my 2 cents come of any use,

            Financial Accountant: You will be responsible mostly for the reporting requirements and your stakeholders will be both internal (CFO, Group Reporting Channel) and external (meeting regulatory requirements, eg. for a Bank you will have heavily deal with Bangladesh Bank, External Audits etc). you have to mostly deal with current and past numbers and also will get a pat on your back if you can put some numbers here to there (within allowable standards) which will reduce tax/show better performance. You will also be looking after the internal control system’s financial accounting part (if the recording procedure make sense from accounting standard’s perspective etc.) – A successful Financial Accountant is more likely to reach to CFO at C level.

            Management Accountant: You will be more of the business guy. constantly work with business/product/strategy department why certain product line doing and why the others are not. which product to drop/cut – where to have a stricter cost control. at mid level you will be having meeting with wider variety of member of boards mostly those who are concerned with profit/business. you will be mostly dealing with current and future numbers. At C level you are more likely to have a strategic role and if you have a rounded experience (of management) and other traits CEO is the chair you are targeting.

            Prospect wise, I strongly believe, largely should be created. You will see hundreds of F.Accountants having a better life than M.Accs and vice versa. So bottom line is what you are good at that will reap you your success. Hence request/suggestion/opinion – please, do not chose your career only based on prospect – that might change by the time you get your degree done.

            Thanks.

      2. Hello Bhaiyya,
        I found Accounting very interesting during my O-levels and A-levels. But, as I took Accounting courses in the university level I found them very monotonous. Rather, I found Finance courses very challenging and interesting. It would be helpful if u can tell me from where should I start if I want to pursue CFA.

        1. If you are in your 4th year of undergrad program then you can give the exams right now. If not, then I would recommend that you better focus on your finance, accounting and economics courses rather than trying to start CFA right away.

  6. Well, I am posting this only by seeking advice. Nothing Else. NOW GIVE YOUR BEST.

    This is a story about a situation that I am in. And I am seeking your best advice – how can I flourish?

    Currently, I am working in an agency. Which work for One of the biggest Multinational Company in Bangladesh. I am working there for more than 2 years and I literally Love and live my job. During my first 1.5 years I had an excellent boss as my Mentor. And I worked like I have nothing to lose. Company Liked me so much they wanted to acquire within their entity upon a certain timeline .
    Then out of nowhere my boss resigned. And then enter the 2nd Boss. I never spoke ill of other person and never ever hated anyone. It became the hardest task I ever know when he entered the scene. And understood job is a hard thing. Not only is my prospect of entering the company gone; there were also yearly two time overseas visit to other countries is being taken over by him. Which is by means is mine to have (My position is entitled to have it; without it my functions in the company is not authorized) . I couldn’t work properly- every single thing I do is a problem – every task I do no matter how good it is; its being burn down – not with matches but with patrol. Agency became off-putting due to his off limit view towards me. As I still seen as my previous boss favourite pet (!). And the Viewpoint of the company towards me has changed due to his ailing communication by the 2nd boss. ( I have to travel a lot). And more than half of the employees in the company is completely new blood.
    Now most of you who are reading this thinking that – you should work more harder; Do your best – rise from the ashes – try being tactical. But guys see the timeline mentioned about I tried that for 6 months . and its just off the limits. It just reached a new heights when my overseas visit to other countries just being snatched away.
    I can’t just quit. Since I said earlier. I love my job.
    And my kind of JOB is a bit hard to come by . . .
    Can anyone tell – What can I do?

    1. This is not a very easy question to answer. People like you who love their job are typically very hard workers. What you should always try to do is

      1. Try to become indispensable to the company
      2. Network with other companies

      Sometimes you need the clout that comes when competitors are trying to get you to their team. Otherwise, companies will take you for granted. In your case even if you try to reach top management they might ignore you because your line manager ‘according’ to them is more valuable. My suggestion is look for alternate opportunities just for having some bargaining power for now. The other thing you MUST do is make some strong allies across the company. You really can’t win this fight by going into a headlong battle.

      1. hello Asif sir i am student of Christ university pursuing my master degree in M.com(banking and insurance)and i got placed in the one the private banks of india .and when i heard about CMA in my campus i am interested to this courses for my value added in my career .sir can my banking experience is accountable in the criteria of CMA which needs atleast two experience because i am very much interested in this courses but suddenly i cant leave my job .sir please guided me because i dont have any source for any guidance with me so suddenly i saw this website i got one hope to interact with your sir.i hope you would help me sir.thank you sir.

        1. Hi Rozer,

          I would love to help you out but I have never worked in a bank nor have I completed CMA. Nevertheless here is my advice.

          1. Assuming CMA=Cost & Management Accountancy you can do it without leaving the job. Whether banking experience is accountable or not you can only understand by speaking to people who have qualified or the institute that offers the course.

          2. How much value addition this will do to your career also depends on whether CMA is a preferred qualification in banks. To know that speak to senior bankers in your bank. Particularly talk to people working in Finance and Accounts.

  7. I Am already in Indispensable position. But as you have said I am in headlong battle. Company is now recruit another in my position to HQ learn from me and work with them.and I have already tried my competitors. Can’t go there – Because of Payload – and No Vacancy at that position. This is the best company (Not in terms of Environment but Brand) in this category to work for. I still want to work. But I just don’t know how to fight this.

    1. In that case try to build strong rapport with all your other colleagues and make them your allies. Stay out of trouble for the time being.

      Also one thing I learned from my life is to have faith on the creator. You might think that this is the best company for you to work in. However, the reality can surprise you quite a lot. Who knows, you might even end up somewhere much better. Only thing you need to do is be good at your job.

  8. Brother, first of all greetings for the new initiative.
    My question is do you think too much study and earning degrees can make people less innovative?
    My second question is in Bangladesh people are choosing foreign degrees which can’t be applied in reality and forget end of the day, in this case what is your suggestion?
    My third question ,do you have any plan regarding Bangladeshi financial market development or you want to be busy with knowledge sharing ?
    Regards

    1. Asif,

      Let me take them one by one.

      1. I don’t think studying and earning degrees would make less innovative. However, if people just delve on theoretical stuff instead of applicable things then that education might not be very relevant.
      2. I am not sure which foreign degrees you are referring to. I think CFA, ACCA, CIMA are all quite application oriented.
      3. I do have some plans on financial market development. Actually knowledge sharing is an integral part of financial market development. Other than that I will sometimes give some policy recommendation (with my limited knowledge). Whether they will make any impact is a different question.

  9. Bhai, a CFA candidate told me –
    “I know it for a fact that SCB has made it mandatory for their International Graduate (IG) recruits to complete CFA Level II within the first 2 years of their employment or else the IG’s job isn’t made permanent.”

    What is your opinion on this issue? Does SCB recruit CFA level 1 / 1+2 passed preferring over MBA holders? I heard SCB runs only operation in BD, but the decision making is being done in India. So, will a CFA charter have scope to entry at SCB at a proper post here in Bangladesh? What about other Multinational Banks? What about our local banks? Thanks.

    1. It is true that SCB made it mandatory for their IGs to complete CFA. However, that doesn’t mean CFA candidates will be preferred over others. At the end of the day companies will hire the person who they find a better fit or find smarter.

      Having said that the CFA program definitely does add a lot of credibility. That will help you get shortlisted. If will however not ensure that you get selected because many factors including communication, presentation, knowledge of non finance subject etc plays a role.

  10. I am really disappointed by my CFA level 1 result in December. Because many of the students pass at their first attempt. Although you have mentioned some guidelines for the preparation, I still do not have any motivation due to the result.
    Now, I have registered for the CFA Level 1 in June.

    Would you like to give me some tips to study? I would be obliged by your response.

    1. Brother,

      I was clinically depressed a few months ago. Couldn’t do anything. Resigned from my job. Saw two psychiatrists. But here I am now a few months later with a new job, happy and all the excitement in the world. I am trying to help out CFA candidates. What I mean is that one setback is nothing in life. Once you get out of it you will come out stronger.

      There are many people who failed L1 only to pass it in one go the next time. There is no reason as to why you can’t do it. Moreover you have already paid for the exam and it is thus a sunk cost. Give it your best shot. If you want you can update me about your progress from time to time and I will try to guide you.

  11. Asif
    Thanks for all your energy and passion in getting your knowledge out to the CFA people. Sounds like there’s an interesting story there.

    I’m looking at the CFA as a way to acquire a more robust and structured grounding in investment principles. I don’t work in finance (although my degree was Economics) and my motivation is just to keep up with the latest knowledge in finance industry AND to be better equipped to manage my own investment portfolio.

    From what you know of CFA and the curriculum, how useful would it be to someone with my interests. I looked at the Lv 1 outline and it looks interesting. But could I use it (as I’m studying) to really make an impact on my investment strategy?

    Thanks bro. Keep up the awesome work!
    Warwick

    1. There is actually a pretty interesting and long story.

      1. I primarily wrote the piece to help the CFA candidates in Bangladesh because we need around 45 charterholders in Bangladesh whereas we have around 25-30 resident ones. This is required to get a society. Without a CFA society it would be hard to develop our financial sector which lags far behind. What did surprise me was that I am getting quite a following from outside Bangladesh.

      2. I switched from an international NY based hedge fund (Best performing emerging markets fund in 2012 in the world) to a local sell side stock broker with the aim of helping to develop the standard of equity research.

      3. I went through a phase of depression last year. Once I recovered wanted to give something back. Also its good for personal branding. Was always interested in a wide variety of social service.

      You might like to read this story also. See “Commandeering an ambulance”.

      Now to answer your questions. As an economics student you would definitely like the CFA curriculum and it will definitely help you manage your own portfolio much better. I myself studied Economics in O Levels, A Levels and did a complete second major in Economics during my undergrad alongside finance. I am basically an economics geek and read a lot and listened to hundreds of econtalk podcasts. So go for it by all means.

      P.S. Your blog looks quite interesting. I myself am very interesting in presentation designs and delivery. Read up on Nancy Duarte and Garr Reylonds alongside many authors. Would love to communicate with you from time to time. Also some advice on my blog layout could come handy.

  12. Dear Asif Bhaiya,
    Firstly I can not thank & praise you enough for all the initiatives that you take for the fresh grads & their career Counseling. I’m really proud of you & so are all the young NSUERS to see a NSUER bhaiya putting in so much time & efforts for the younger ones. [saying on behalf of all the young peoples]
    Thank You bhaiya.

    Now, I want to ask you a question that one of my friend asked me & I was not able to answer him properly. Here is the question-
    1) If a Company, it can be belong to any industry-wants to get enlisted in the capital market i.e. DSE then what are its pre-requirement i.e. Paid up capital, financial performance etc. Does it vary industry to industry?

    2) Can you recommend me any web link or books where I can find more details information about Bangladesh’s capital market, trading rules & all other necessary details.

    Regards
    Sakib

  13. Dear Asif bhai,
    I did bna in finance from DU and ACCA from uk..after returning to BD in 2011 I joined GP in a non-finance/accounting position…my job involves 0% finance/acctg which I joined cause I thought I will move to finance team internally later on…but moving internally isn’t encouraged here that much and the jobs is so monotonous that its crushing my soul each passing day!!… I’m 29 and planning to revamp my career a new…as a part of that I’m trying to enter rating agencies as fin. analyst…I think that wud be a good start at least..what u suggest..I don wanna do MBA cause I think after BBA amd ACCA there isn’t much to learn from BD MBA programs…meanwhile I’m thinking of a back up plan..if my attempt to breka in to core finance job doesn’t work out, I will join teaching and eventually opt for phd…with that in mind, I’m eyeing for Ms in ECO in nsu…btw, is ms in eco better in nsu than ewu? Anywau, what’s your take on the whole thing…what you wud have done if you were on my foot??…your feedback is highly appreciated!

    1. Firstly, I agree completely that there is no reason to do a MBA. I would also advise against Ms in ECO. Secondly, I also agree that you need a change in job to something more relevant.

      You really need to get out and network with the people who work in the industry you are interested in. Make a rapport with them and then forward your resume. Even if you get a relevant job at relatively low salary join there if you can learn.

      1. thanks a lot vaia…I’m just called for an interview at a rating agency..knowing that salary in rating agencies is relatively low, I still want to take this opportunity…hwoever, do u think having worked there for few years and doing Executive MBA from IBA will help me switch to Finance in MNCs…?

        1. That is a very difficult question to answer as there are many variables. However IBA is a prestigious organization and if you learn a lot and network properly you may be able to move to an MNC.

  14. Bhaiya, I have finished my BBA majorong in Marketing and minor in finance and accounting. Now I am an articled student in KPMG Rahman Rahman Huq. My question to you is, which one have a better prospect both in home and abroad, CA qualification or MBA from IBA or NSU?

    1. Call me biased but I think that professional degrees are better specially if you want to go abroad. However take special care on choosing the degree depending in where you want to go.

  15. Thanks for your reply. Since I am doing my CA in bd, do other countries like australia, NZ, England will recognize my degree untill I qualify as a FCA? I mean do they recognize ACA from countries like bangladesh? And one more question, can i apply for my phd right after my CA or a masters is mandatory?

    1. I think for England you just need to do one more paper after you complete CA in Bangladesh to be a CA from ICAEW. I am not sure about the other countries.

      Regarding the phd I think you might need to do a masters.

  16. Dear Vaia,

    I know this place is full of finance & economics suggestions, but i need suggestion on HRM. In BBA my major was MKT & Hrm, In MBA my tentative major will be HRM. Besides I joined to BIM in 2014 to do my Post graduate diploma in HRM. Right now i am doing a job in admin dept. I am totally confused about my career. what should i do? leave the current job and looking for hr related job?

    Please help me to take the right decision.

    1. Assuming you are passionate about HRM you should definitely try to pursue it. However, don’t leave your admin job right away. Keep working but also keep searching for an appropriate job. Tell your friends and family that you want to switch.

      Also try to hang out with the HR community. Find out facebook, linkedin groups for Bangladesh HR community. Actively participate in the discussions. Read on HR as well.

      I will probably write detailed posts on this topic.

  17. Hi Asif bhai. Hope you are doing well.

    Provided corruption, fraud and lack of accountability in every sector, what do you think about the future of equity research in our country?

    My little understanding is that if individual and institutional clients feel that there is only a small value in research provided the stock market is not vibrant enough, stocks are still being traded with insider knowledge (including rumor based investing), then research will be ignored due to less money it can bring to the company or Asset Mangers. Why spend on research when there is less trading revenue being earned, right? As it is said to the fundamental equity researchers – “You won’t make money unless market agrees with you”.

    As you are working in this industry for several years, I look forward to hearing from you in this matter. It will help many people with their career planning as well 😀

    Regards

    Ayaz

  18. What do you think about Islamic Banking ? As this trend is increasing in Bangladesh do you think it’s high time to teach this subject in academic level??

  19. Hi Asif Bhaia. I want to pursue my career in corporate finance. I am in my last semester in NSU. I was thinking of going for CFA after I am done with my graduation. However, do you think an MBA with a finance concentration would be better for my career in corp. fin.? Which one you think I should attempt next and if CFA’s going to be useful for this career line after all?

    1. There is a common saying in Analystforum.

      1. A CFA is worth the top 10 MBA’s in the world in terms of value. So unless you can get into Harvard or Wharton or INSEAD I would say CFA is a better choice. If you were considering a local MBA then forget that and go for the CFA instead.
      2. The depth of knowledge you get in the CFA program is much higher.

      I strongly believe that the course curriculum would be relevant for corporate finance jobs.

      1. Thanks for the reply.

        No, I was indeed considering a foreign MBA. Anyways, if I do attempt CFA now, should I get a job alongside? I am asking this because I intend to get an MBA or Masters in Fin from abroad at some point in future, and I am confused whether to go for one straight away and then focus on my career totally, or to get a job and try for CFA now and maybe after 2 years go for the other degrees and after um done with that, again focus on my career. I have heard its much harder to get a job afterwards if there is a gap in the career and so even the fresh graduates get jobs easily than the ones who had left their jobs to pursue higher degrees. Is that true? What would be your suggestion considering all these factors?

        1. Let me break it down for you.

          1. If you go for CFA then you MUST look for a relevant job. That really helps in understanding the CFA material.

          2. If you want to go for MBA/Ms Fin then also I would recommend that you work for a couple of years first. Otherwise you cannot get the full value from your MBA/Ms Fin.

          Conclusion: You should look for a job. Try to give at least CFA L1 while you are working (even if you go for MBA/MS later).

          1. Hi,
            Could you please kindly list some relevant jobs in Bangladesh that one can undertake along with studying for the CFA examinations. Thanks.

    1. Non textual ones would be

      1. The undercover economist
      2. Freakonomics
      3. Naked Economics

      Textual ones (Both these guys have Keynesian bias so try to find some other books also)

      1. Principles of Macroeconomics by Mankiw
      2. Macroeconomics by Paul Krugman

  20. Got a question.

    After a declining trend for a couple of months, spread has increased from 4.97% to 5.06% in December, 2013. Why is that? The data shows that the deposit rate i.e. cost of funds have kept moving downward whereas lending rate increased a bit in Dec’13. Now I understand banks are discouraging deposits with lower rates as they are sitting on excess liquidity and private sector credit growth has hit 13-14 year’s lowest (10.6% in Dec’13) which effectively hurts the interest income of banks as alternative investments yield lower than loans. But why has not the lending rate come down significantly? Why has it increased in Dec’13? Has it got something to do with recent loan rescheduling frenzy? Perhaps I am the one missing something.

  21. Asif Bhai, I never get even a relevant answer of the question: What is our scope at USA as CFA passed or charter? You know, racism and biased manner are always there in the USA!

    1. You already answered: “USA is not about racism. its about quality. it depends on many other things”
      Can you please specify few of those many other things? Like do i need to have a MS or MBA from USA beside CFA to increase my chance? Or I need relevant Job there in USA?

      1. Actually I am not an expert on the subject. I worked from Bangladesh my whole life. But as far as I know good equity research/investment banking jobs have become very competitive. So unless you have great work experience, a CFA would not cut it. You might need an MBA from a good university as well.

  22. I am appreciating the discussion. I have always wanted to study cfa but seems had no formula. With this I will enrol. Is it possible or advisable that I can start now and pass june exams.

    1. Is it possible? Of course. I myself and many people passed L1 with 3 months of preparation. In fact I got >70 in all 10 topics.

      Is it advisable? That completely depends on your knowledge of finance and how much time you can dedicate. It is at the end of the day your call.

  23. I was just reading Margin of Safety by Seth Klarman, and I found this piece amazing. ‘Since stock prices do not appreciate in a predictable fashion but fluctuate unevenly over time, almost any forecast can be made and justified. It is thus possible to predict the achievement of any desired level of return simply by fiddling with one’s estimate of future share prices.’ Also, referring to your recent post on the technical analysis of S&P 500, I would like to ask a few questions.

    How often do you (or other fellow investment analysts at BRAC EPL) use technical analysis in making investing decisions. More importantly, how strongly do you have confidence in technical analysis? Do you think it’s just a coincidence that the Fibonacci retracements happen to point out future movements of the market. or do you believe that the value of a stock is ultimately tied to the value of the underling business?

    1. 1. At BRAC EPL the equity research team does not do technical analysis.
      2. I think traditional technical analysis has some flaws. I use it for a completely different reason which I might elaborate later in a separate post.
      3. I strongly feel that ultimately stock prices would revert to its intrinsic value. Like I said we are not technical analysts here but when combined with fundamental analysis it can give some unique advantages.

      Let me give you an example. When the market is going up almost all stocks will give technical buy indicators. If 100 of them give buy signals how do you pick from them.

  24. Hi Asif,

    Please let me know the career prospects for the below professional degrees:

    1. CA
    2. ACCA
    3. ICMA
    4. CFA
    5. CPA

    Thanks.

    1. CFA is the only pure finance degree out of the 5 while the other 4 are accounting based professional degrees. So you have to chose which one you like better.

      In terms of accounting, CA, ACCA and CPA are focused towards financial accounting. CA is typically the most recognized but ACCA is gaining popularity quite rapidly. I don’t think CPA is particularly suited for Bangladesh.

      ICMA is a cost and management accounting degree and is also quite recognized and reputed. The international counterpart of the degree would be CIMA.

      1. Thanks for your reply 🙂
        Can you please also tell me as to which of these courses is least costly to acquire? & also takes up less time to complete?

    1. Those are mostly managerial accounting degrees even though they cover a wide variety of subjects. It will surely help you in getting a capital job but mostly in accounting or managerial jobs.

      Usually, you will not get research or portfolio management jobs with ICMA/CIMA.

  25. Dear Asif Bhai,

    Can you please tell me if its a good thing to show that you are doing MBA (evening) in your CV while applying for jobs? Does it put a negative impression for the employer? Because the employer might think that he/she will not be able to provide sufficient time to his/her office working hours

  26. Hello asif bhai. i am doing my BBA major in finance and accounting from NSU. I would like to pursue a professional degree (would be CFA ) after my graduation.I look through all your questions & answers and find each of them very interesting and helpful.

    My question is that, if I choose CFA degree what will be the areas i will able to apply for. I personally do not like bank jobs rather than looking for non- banking institutions. and if after my graduation i settle down with a job, how stressful it would be to maintain the job alongside with CFA preparation.What will be the cost of sitting for CFA degree?(i have no idea about it). Would you recommend any or is their coaching centers in Dhaka for CFA degree.

    Thank you and waiting for your reply.

    1. Typically these would be the areas

      1. Equity Research in stock brokerage, asset management companies, merchant banks, banks
      2. Investment banking in merchant banks and banks
      3. Credit analysis in banks, credit rating companies
      4. Treasury management in banks

      It is kind of hard work but highly possible. Almost everybody who pass the CFA exam do it alongside full time job. However, if the working hours in your job are too crazy then it is tough.

      Two people I know teach it. However, I recommend people to study by themselves.

  27. Bhaiya, Its a Finance related question.
    I want to determine at what price will the securities hit on their 1st day of listing?
    What valuation models shall I follow? How can I incorporate the market news, industry news, market condition in my valuation.
    What indicators I need to consider?

    Thank you
    Sincerely

  28. Dear Asif Vaia,

    Take my salam first. I hope you are well. I regularly try to follow your blog and it always helps me a lot. Hence I am asking a Finance related question today.

    Banks are often exposed to the risk of financial losses.I want to develop some knowledge on how statistical tools or Statistics can be used to measure such Financial losses? In this context, what I am wanting to know actually is names of some statistical tools & how they are used to in quantifying losses.

    It would be a great help for me if you enlighten me about the topic. Thank you and waiting for your reply.

    1. I am not an expert on the subject. However, I have seen banks do the following and report in their annual reports.

      1. Stress tests
      2. VAR

      You can google on both these topics to understand what they mean.

  29. Brother, would you please inform me how I will decide entry and exit trading strategy ? Is there any formula or trend line?

    I have searched it in google. But it is not clear to me. In a website, I found I should buy undervalued stock, Okay. So, how I will decide it is undervalued in technical analysis software and how I will decide I should exit from particular stock ?

    Wish your discussion in this regard.

    1. I really can’t answer this is a few lines. If I could investing wouldn’t have been that hard.

      Technical Analysis cannot tell you whether a stock is undervalued or overvalued. It can only tell you whether the current trend will remain or not. It is good tool to make entry/exit decisions.

      To understand value you HAVE to do fundamental analysis. Meaning make a forecast and value the company.

  30. Dear Asif Khan,
    Can u explain me in case of fund raising which one is better between Bond financing or Debt financing

    1. Azad Bhai,

      Bond is a type of debt but I am guessing that by debt you mean bank financing.

      I think the answer depends on what kind of financing a company needs. If it needs long term financing then bond financing would be appropriate. However if it needs short term financing it is usually easier to go bank borrowings. Shorter term financing usually has lower interest rate compared to longer term ones as per ‘term structure of interest rates’

      1. Dear Asif Bhai,
        Thanks for the satisfactory feedback. But One of the top investment bank asked me the question which I shared with you. Anyway, thank you for your reply.In addition, I want a suggestion from you regarding my career:

        I’m trying to switch my career path to financial sector like investment bank, analyst in any NBFI, Research Associate in NBFI and so on. You know I’m in a teaching profession(Sr. Lecturer, Finance). If I follow CFA, is it feasible to penetrate to the desire job market?

        Thanking You.

        Best Regards

        Mohammad Abul Kalam Azad

  31. Asif Bhaiya, in Bangladesh I hear the term ‘Merchant Banking’ a lot while ‘Investing Banking’ is more popular elsewhere. Are they the same or is there any difference between the two?

    1. Actually they are pretty much the same. Only addition is that the Merchant Banks in Bangladesh have a “Portfolio Management” business which does not typically fall under the spectrum of Investment Banking business.

    1. Very hard to answer that because of two things.

      1. I am not an expert on the subject.
      2. Almost nobody in Bangladesh has received international certification and thus there is no benchmark

  32. Hello Asif Bhiya,

    How are you? I have a career-education related question.

    There is a very high chance that I will be moving abroad (Canada) in July 2015. I am doing my MS in Eco (completed BS in Eco) from NSU and will be seating for CFA Level 1 exam on June, 2014. Currently I am working at a consultancy (will have 1.5 year experience at my expected time of departure).

    If I want to develop career at Canada, which option do you think would be more appropriate:
    a) MBA (with fin concentration) from a mid level university – only Wilfred Laurier & MCmaster offers MBA for new entrants/people with job experience of less than 2 years
    b) MS in Fin for mid – higher mid university (I do not think I shall be able to get into Canada top tiers)
    c) MS in Quantitative Fin

    Thanks a lot in advance. Looking forward to hear from you.

    1. This is a very difficult question for me to answer as I never lived in Canada and nor did I ever go there even. What I will highly recommend to you is

      1. Find out people working in the financial sector of Canada and get feedback from them directly
      2. See if there are online forums of finance practitioners in Canada

      Unless you get ground level feedback it is not going to be very useful.

      1. Thank you Asif Bhai.

        As per your suggestion, I posted in one Canadian and one international forum.
        In addition, I am also contacting friends who are working in financial sector of Canada.

        Best Regards
        Shihab

  33. Asif Bhai, you probably know that Holcim and Lafarge are going to merge into LafargeHolcim and after the disclosure of this news, Lafarge Surma has surged (although I’m not sure if this particular news caused the prices to shoot up since the company was on the rise since January). Now Holcim isn’t publicly traded in Bangladesh but Lafarge Surma is. So if these two companies do eventually merge, what changes would it bring to Lafarge Surma’s Balance Sheet? And would the company still remain public or will a separate company by the name LafargeHolcim take its place?

    1. Hard to say at this moment. I think management has a lot of discretion on this at the moment. If I were to guess I would say that the post merger entity would still be listed (lower tax rate for listed companies). How much benefit the merged entity will have is also not very sure but it seems like the combined entities will have higher market share and there could be some synergy benefits.

  34. Asif bhai,I often heard that there are many finance graduates but very few of them are qualified. What qualifications a fresh finance graduate should hold for a career in finance? What are the common flaws or drawbacks fresh graduates should overcome? I’ll be graduating with a Finance & Accounting major from NSU soon, thus I’m seeking advice from you. What should I do to earn desired qualifications?

    Thanks in advance
    Zahin Sarwar

    1. I think the problem is not only in finance but applies for every single discipline. We have too many cookie cutter graduates who are homogenous (all similar). This would not do.

      You need to make yourself different and stand out by doing the following stuff.

      1. Have a good grasp of the finance theory (not just knowing it but understanding the logic)
      2. An idea of the economy and how markets are behaving
      3. Have other weapons in your arsenal including good writing skills, presentation skills, Ms Excel etc.
      4. Most importantly you need to be able to showcase all these through writing in newspapers, knowing relevant people etc.

  35. How often is the NAV of closed end mutual funds in Bangladesh calculated? And can you please tell me where I can get the historical (weekly or monthly) NAV of the mutual funds.

  36. Hi brother would you please tell me if i want to take part in CFA level 1 exam December 2015 when i need to do registration? I am a BBA 3rd year(6th semister)student of Finance in DU,

    Can i apply for CFA scholarship now?(as the deadline for appling the scholarship is 15 september for exam june 2015 and December 2015) or i have to be wait until my 4th year?

    Please give me the sugession how and when i can register for exam so that it takes lowest time and lowest cost to complete all 3 level?

    1. I actually don’t know much about the Scholarship. The payment deadlines should be available in the CFA Institute website. My guess is that for Dec 2015, registering by March 2015 should be the cheapest.

  37. As a recently graduated person looking to land a job as an equities analyst what are the key functions/areas you really need to have nailed as far as Microsoft Excel goes? Obviously knowing everything inside out would be great but what would you say are the real key areas that you should be all over come day 1 of your job?

    cheers

    1. Hi Luke,

      I think what people should give time is mastering the keyboard shortcuts for Excel.

      For day 1 of your job, getting your mind ready is the most important part. Be ready to be humbled day after day by the market. Every day you will learn new things and even unlearn old stuff.

      What will differentiate you with others should be your thinking capability and unique sources of information. If you think similarly and use same source of info, you will not be any different from the masses.

      Asif

  38. Hello Asif Vaiya,

    I work in an AMC, and I am preparing a budget for 2015. I would be glad if you can provide any valuable suggestions regarding the following issues.

    1. Is there any other ways for an AMC to generate revenues other than through Mutual Funds and Institutional Fund Management ?

    2. Can you help me with ideas for a Finance Institutions ( example AMC) to come up with promotional activities which have not yet been done by others yet ?

    3. How to effectively create brand awareness or company recognition ?

    And if any other suggestions that you think is important, would be most welcome.

    Thank you.

    1. I think I answered the first question earlier. For the second one I feel that AMC’s in Bangladesh have not done much promotional activity in any case. There are lots of options to use newspapers, social media (facebook, twitter), radio etc for branding purpose.

      I think what really matters for an AMC is a. Ethics b. Competence. While reaching out to people these should be highlighted. Competent people are relatively scarce in Bangladesh and thus if any AMC can find such it is a big plus point.

  39. Hello Asif Vai,
    I am cfa level 1 candidate planing to sit for exam june 2015 . Do you think read only schweser book enough to pass the cfa level 1 exam .I complete my graduation
    in Economics from EWU.
    THANKS

    1. Well I know a lot of people who passed using just Schweser. However, I recommend that at the minimum do the end of chapter questions from original book and give as many mock exams as you can.

  40. Hi Asif,

    I have my undergrad in economics and graduation in mathematics. I have recently decided to give CFA. But i have very little knowledge about the course, the extent and the vastness of it. I want to sit for June 2015 session. But i haven’t registered yet. You think 5-6 months would be enough for the preparation, taking in view that i have only 4-5 hrs in a day to study and very little financial knowledge.

    Thank You

  41. Currently I am doing MBM(Masters in Bank Management)from BIBM(Bangladesh Institute of Bank Management).I am in 1st semester now.If I do CFA along with MBM, will it help me to achieve a top position in a bank. and what types of works a CFA holder does in a bank..?

    1. CFA is most relevant for asset management and stock brokerage industry. In banks a few departments might find it handy including Treasury and Credit Risk Analysis. However, I would recommend that you focus on MBM for now and try to get a good job. You can always do CFA later.

  42. Hello vaia
    I have just started my second major in economics(first one in finance) in NSU and for that reason I would have to complete additional 18 credits besides 124 credits.My question is will I be considered a senior after finishing 90 credits and allowed to sit for level 1 or will I have to consider my second major cresits while planning for level one? Is there any hard and fast rule?
    Thaks vaia.

  43. Hi Asif vhi, Thanks for taking this kind of initiatives for us which helps us to build up our career.
    Any ways, can you tell me if some one passes all levels of CFA, with that CFA degree in which countries he or she will be able to work directly?

    1. Passing the CFA does not guarantee work visa in any country of the world. HOWEVER, CFA is the most recognized professional finance degree in the world. It is globally accepted and recognized. Therefore, it can open up opportunities in many countries.

      Asif

    1. Thanks Christina. The books CFA Institute send ($150) is good enough for preparation. In fact that is the best option. However, some people (like me) who are a bit lazier took helped from private guides like Schweser or Stalla. If you find the CFA Institute books too lengthy then you might consider investing in one of the guides.

      Asif

  44. Hello via, I am in last semester in NSU doing major in Finance and Accounting. I am interested about CFA. How much time and money need to pass 3 part of CFA if I don’t fail any part? Do I need any work experience before doing part 1, 2 or 3? Or during CFA?
    Thank you.

    1. Hello Selim,

      You will need 2-3 years to pass all three levels. It would probably cost 2-2.5 lakhs.

      You don’t need any experience to give the exams. However, once you pass the exam you need to show 4 years of relevant experience (experience before doing CFA can also count) before you get the CFA Charter.

      Asif

  45. Hello Asif vai,

    I need some advice from you as I am in a peculiar situation. I did my Bachelor from Dhaka University in International Relations and did my MSc in Management from a reputed University in the UK. After coming back to Bangladesh, I joined a Govt. bank as entry-level Senior Officer. But being dissatisfied with the work environment and salary, I left the bank after a year. Since then, for the last 2 years, I have been working for BRAC as a social science researcher in the capacity of Research Associate focusing on development, governance and politics in Bangladesh. Basically, we do mostly qualitative research and publish various reports. I took this job as I had social science background. Now, I want to migrate to Canada or Australia and have found that it is almost impossible to get a job as a social science researcher there. Most of the jobs are finance and accounting related. In an attempt to realign my career, I am thinking between doing an MBA from NSU/IBA and studying for CFA. So, can I enroll for CFA? Is it academically possible for me? If yes, how should I get the preparation? Can I get prep coaching from somewhere? Or I’ll have to do it all by myself? Give me some advice as to what should be my best options? I look forward to your reply.

    1. This is a tough question for me to answer because my background was quite different. If you are planning to move to Canada, it probably makes more sense to do a degree from Canada. None of the degrees (MBA, MS etc) from Bangladesh will make a difference there. The CFA Charter can be a positive though.

      You can definitely enroll for the CFA Exam. While I don’t recommend it, tuition providers are also available. I will recommend that you go through http://www.cfainstitute.org website. Also try to get hold of some of the CFA textbooks and see whether you enjoy reading them.

      Asif

  46. Hello Asif Vaia

    Just wanted to know how investors in Bangladesh value startups! Do they follow the tradional VC process or do they follow something different?

    Looking forward to your reply

    1. Interesting question. Startup valuation is always a very subjective process because there is a lot of uncertainty.

      Frankly speaking, I do not have enough knowledge of the BD startup scene to give an answer.

  47. Hello Asif vai

    I am a second year student of BBA at NSU. I am gonna take finnance and accounting as my major one. So i was thinking about joining CA after my graduationcompleted. Now i want to know whether it would be wise to join CA or FCA. if i want to study FCA which are the institutions i m gonna talk to or would i have to go abroad to study this. Waiting for your wise reply. Thank you

  48. Dear Asif Bhai,

    Civil Engg (BUET), MBA (IBA).
    47 yr old!

    Worked in Army 23 years and now 4 years in HR in a group of company!

    Want to do CFA!

    Plz comment!

    1. Dear Shabbir bhai,

      I know people who have taken the CFA exam at the age of 60+. It depends on the intent. For someone who wants to learn for the sake of learning the CFA exam can be taken at any age. You have Masha Allah a very good academic background and I think you might fall in this category. From a more professional standpoint, the CFA charter might not add a lot of value since you are working in the HR department.

      I hope I have answered your question.

      Asif

  49. I have done b.c.a year 2015 march 5.I want to do m.b.a I live in very small place I have very limit money I also job in school where good salary is given to me.if I do m.b.a after 1-2 years is any problem with my careerto m.b.a bcoz I will collect some money from school after teaching 1-2 year.please reply me.

  50. Dear Asif Bhaiya,
    Today I had attended a seminar on financial statement analysis, lectured by you and I was frankly baffled by your knowledge and depth in the financial field. I am a student of NSU pursuing a major in finance and a minor in economics. I had dreamed of sitting for the CFA exams but as I could not find any guidance the thought slowly vanished. But after attending your lecture I am motivated more than ever to pursue a CFA charter. I would be really grateful if you could tell me which books should I buy and where I can get them. I don’t want to miss out on anything and want a full proof preparation. So please refer to me all the possible materials that I may need to start my preparation. Thank you

    1. Hi Andalib,

      Really happy to know you liked the speech. I will be putting up the materials presented in a blog post soon.

      For CFA the best place to know about is from the CFA Institute website. Know that you can only sit for the exam in your 4th year of undergrad. The way to get the books is by registration and paying for the exam. They will then send you the books. Additionally, there are many students who have passed Level 1 and they might lend you their books so that you can check them out. Send me an email at kh.asif@gmail.com if you need some help with getting the books.

      Asif

      1. 1. Vai, i have decided to start doing mba(nsu) from september 15, is it wise to sit for the cfa level one exam on june 16?

        2. Where should i go to register for cfa? Is applying through online is the only way to register? Where i should go to sit for the xm?

        3. How can i get the list of the books and the books before registering?

  51. Dear Asif Bhai

    Please be informed that currently I am working in a commercial bank credit risk management department. Now I want to do CFA . In Dhaka can you please refer any training institute who teaches or guide CFA students

    Thanks

  52. Hi Asif,

    Firstly wanted to thank you for the blog and guidance for people wanting to get throught CFA.

    So I have been a little more ambitious than usual and decided to attempt Cfa level I in 2 months. Any thoughts on preparation ideas and tips are seriously welcome. If you find this funny given the timeline do let me know that too :).

    A bit on my background, I have been working as a private banker for over 10 years now.

    Look forward to hearing from you.

  53. 1. Vai, i have decided to start doing mba(nsu) from september 15, is it wise to sit for the cfa level one exam on june 16?

    2. Where should i go to register for cfa? Is applying through online is the only way to register? Where i should go to sit for the xm?

    3. How can i get the list of the books and the books before registering?

    1. It is possible to do it with MBA but depends on you. Registration is only online. Exam is conducted in Dhaka every June. The venue is announced before the exam. You will get the books when you register.

  54. Dear Asif vai,

    I was going through all of the comments that you have delivered and I must say that forwarding step for pursuing CFA with your direction could be the best option at the start up phase. Actually, I am in bit of dilemma regarding my career path. Regarding me, I am a civil engineer who did his M.S in construction management from Germany after conducting B.Sc from CUET. During my academic phase, I had very few options to interact with “Finance”. Let say, around 10% of total curriculum were related with finance, accounting and economics. After returning home from abroad, I joined in a project management company where I am working with several financial issues like cost management, contract management, taxation, valuation, etc. I have around 3 years work experience among which I am working the listed activities since last one year.

    So, according to my profile, you may already have an idea about my lack of experience regarding “finance” both theoretically and practically. But I am highly interested to work in “asset management”. In this condition, what would you like to suggest me? To go for “MBA” or “CFA”. I know it is bit difficult to answer for you as you are from business background, however, it will be really great if you can give me some direction. One more thing, how much it could be tough to get in finance stream without having proper business/finance background? Your kind suggestions will be highly appreciated. Thanks in advance.

    1. Dear Shahidullah bhai,

      It is quite common in Bangladesh for people with engineering background to shift to finance. The strong background in mathematics usually helps in the transition. However, I have seen that most people skip Masters and go for MBA directly which is not the case for you.

      To be honest the immediate (say next two years) future for asset management in Bangladesh does not look too bright and job opportunities may be scarce. CFA is however the best method to penetrate this sector. For you, given your experience I can also recommend an alternative path where instead of CFA/MBA you can go for CIMA. Your engineering knowledge along with the CIMA qualification can give you a clear edge. I can see all sorts of career opportunities with that combination.

      Let me know if you have additional questions.

      Asif

  55. Hello sir…
    I jst wanted to knw if BBA is going to help me doing CFA aftr my grad…plz sir relpy am totally confused…nd wat is cfa all about…where it is going to take me…thanq sir..plz reply..

  56. Dear Asif Vaia,
    I m a student of Accounting background. I have done my BBA with Accounting from DU and appeared MBA. Now, I m so much confused about what to be next.I wanted to pursue my career with CFA but my well wishers, friends are teeling me to pursue with CA. According to them CA is the best in Bangladesh to get into a top position of an organization. It will make my path easy. So now i m confused waht to do. And currently i m doing my internship at Abdul Monem Ltd.here also i m seeing that the toppers are FCA. CA is smoothing their path to get promoted quickly. So can u kindly suggest me what to do.

      1. Thanks a lot vaia. U are the best counselor I have ever met. My all confusions have been diminished with ur explanations. It was really beyond my expectation. Once again thanks a lot.

  57. Hello Asif bhaiya,

    First of all, allow me to thank you for your amazing articles – they’re extremely informative.

    As I am approaching my 8th semester, I am in dilemma. I am currently majoring in Finance at NSU, but want to do a second major in Economics or Management Information System (MIS). Would you please suggest which one would be better, as I plan to pursue a career in Finance?

    Also, does doing a minor in Economics add any value?

    Regards,
    Akif

  58. vai In bangladesh which one is best CA or CFA?i thing CA is a lengthy process and student must have to take a lot stress!i have no idea about CFA.which one is easier to complete?and how much cost for CFA?is their any tution provider for CFA?currently iam doing BBA at Heroit-watt university (exam under british council bangladesh).Thank you!

    1. CA and CFA are both quite tough and one needs to study a lot. They however teach different things. PFS in Dhaka provides tuition for CFA. The latest cost for CFA will be found in their website.

  59. Asif vai. Just saw a scholarship opportunity for cfa level 1. But its for december session. My question is do i hhave to go to india for attending the xm on.dec?

  60. Hello
    I started my degree program just a week ago..BBA(4years)..and here the university is providing specialization on HRM or marketing after the end of 2nd year…and now I got opportunity to study CIMA if I wish..so would you recommend me to study CIMA as the specialization is provided only for HRM and Marketing. .Please help me..I don’t have proper informations about this..

    Regards

  61. Hello,

    In Bangladesh, how anyone can per-sue cfa? is there any particular cfa training institute available in dhaka? please mention some.

    Good Day.

  62. I have recently learned that CFA charter holders must pay a hefty subscription fee (compared to bangladeshi standards) to CFA institute annually after receiving charter, to continue claiming themselves as charterholders
    my questions :
    1. what are the mean salaries of a CFA charter holder – from a beginner analyst(lets say while studying to become a charterholder, only LEVEL1/LEVEL2 qualified) , to after 4/5 years on the job once receiving the charter, assuming this person is brilliant on the job? ( I am asking this because the salaries need to be high to compensate for the subscription fees paid annually cos $300 per annum is a big deal in bangladesh)
    2. what are the implications/ restrictions on one’s career if one stops paying the subscription fees after receiving charter,due to lets say financial troubles, and stops being associated with cfa institute? Can he no longer claim he passed all 3 levels once? Do ones value as an investment professional fade away if he loses the charter?
    3. what advantages will be realized if a cfa society is finally formed in bangladesh?
    very less coverage is available on these matters so i would gracefully request your help. thank you.

    1. The salary level of the CFA charterholders in Bangladesh vary considerably. However, almost all the charterholder’s I know are very well placed. Additionally, I know that almost all of them pay their annual dues which is roughly $350 per year. Some companies however pay it for their employees.

      If you stop paying you can still claim to have passed all three levels. You just cannot use the CFA title beside your name and cannot call yourself a charterholder. You can however resume paying anytime and then start using the title again. Value as an investment professional will not fade at all.

      When CFA society gets formed in Bangladesh we will have lots of events. Some will be for networking and some will be knowledge sharing.

      1. Thank you for an informative reply. you have certainly cleared out some of the major confusions i had regarding cfa.

  63. Dear Asif Bai,

    Hope you are good, I am in 11 semester in NSU major finance and accounting. My cgpa is very poor around 2.50. Should I go for CFA??

    Thank You!
    Noor
    Your follwer

  64. I am in my 6th semester at NSU, but i have a poor cgpa of 2.84 . i have recently seen a few recruitment advertisements of large stock brokerage firms (namely, IDLC and LankaBangla) where they have set the minimum cgpa to apply for junior associate jobs to be atleast 3.3 . this has me worried. in case i cannot increase my cgpa to 3.3 and above by the time i graduate, then if i sit for the cfa level 1 exam in my 4th year and pass, do u think companies will allow me to forward my application, or it will be rejected altogether if i do not meet the cgpa requirement? i know i can pass cfa level 1 Inshaa Allah if i put my mind to it . so please use your knowledge on the recruitment procedures of investment companies to help me with my predicament. thank you.

      1. vaia if u get the opportunity please try to get me this information and the general trend in recruiting..cos after finishing nsu undergrad, which is a very costly program, then paying my dues for cfa level 1..if i am not even allowed to apply for junior associates jobs then it wud be a disaster for my career. then i would rather try my hand at CA instead or maybe ACCA/CIMA. thank you.

  65. I am studying in NSU. My first major is Finance and Accounting. Now i am confused about during a minor in economics or just taking the remaining finance courses(namely bank management, financial derivatives, risk management) under my open electives. personally, i want to take as many finance courses as possible to increase my knowledge base, but does it add value to my CV? cos a minor in economics does give me something extra, but i do not want to miss out on studying the remaining finance courses my major does not cover. i want to pursue the one which is best for me. i m seeking your advice. thank you.

  66. Hello , Asif Vaia
    I have completed BSc Engineering in Industrial and production Engineering from Khulna University of Engineering and Technology. My aim is to to seek the top position of an industry. Recently I have decided to do CMA from ICMAB. Would you please tell me that my decision is right or wrong? WILL CMA degree help me to seek the top position of an industry within short time?

    1. CMA is a good degree. However CMA cannot guarantee top position. The only thing that guarantees that is your ability to create value for your employer. Secondly, you also need to see whether managerial accounting is relevant for your job role.

  67. i have recently completed my bba.. after that i cant study more bcoz of my finance problem, so i think to go for a job… is it suitable for me or not… if i do a job then what is the salary will i get..??

  68. For last 5 yrs I am pursuing my career in Supply Chain Management. Now I am eager to enhance my career further. In which way I should go forward between ICMA and CSCM (Certified Supply Chain Manager)? Please suggest me the career aspects in perspective of both in Bangladesh and in abroad.

    Thanks for your time and consideration. And thanks in advance.

    1. Hi Benzir,

      I am not qualified enough to comment on Supply Chain Management as my specialization is in Finance. Its best if you can talk to some experts of Supply Chain Management.

      Asif

  69. I have done bba (marketing) i am
    thinking to do mba and also some external along with Mba,
    course which course should i do?

  70. I have done bba marketing i am
    thinking to do mba and also some external mba,
    course which course should i do?

  71. I have just completed B.B.A from islamic university,kushtia at finance and internship is going on. now i am pursuing for CFA and at the same time i want to do mba from same university. Now my question’s are

    1.Is it possible to do cfa & mba at same time.
    2.what would be better: to do job with cfa or mba with cfa for better carrier.

    eagerly waiting for your answer.

  72. Dear Asif via, Thank u very much for all the useful information related to CFA u shared in this blog. could you plz tell name of any recognize institution which is providing CFA tution/coaching in Dhaka.

    One thing more, Is the CFA exam centre held in Dhaka in June exam session only?

    Thanking you

    REZA

  73. Hi asif vai, Thanks for your logical answer. But i have to know something more. Thats are 1.what are the oppourtunities of cfa in bangladesh. 2.cma or cfa what would be better in bangladeshi perspective as a student of finance.

  74. Hi,
    This is Mehdi..i have completed BBA (Major in Finance) in 2011 from United International University. Then I completed MBA in 2013 from University of Dhaka under Finance Dept.

    Can i go for CFA degree ? Is the student of United International University is allowed for CFA degree ?

  75. Dear Asif Bhai

    I will take preparation for CFA part-1 shortly, now preparing my mind for that…Pls give me some suggestion: will read Text book provided by CFAI/ Guide book by CFAI/Kaplan Sweaser notes? which one will be easier… give me some advice which you think will be useful for taking preparation for part-1.I am little confused

    1

  76. Hi,
    I am currently sitting for my last 2 ACCA papers. But I am planning on getting enrolled with CFA once i am done with ACCA. Will this be a good career move?
    Thanks in advance.

    1. Bushra, ACCA and CFA are focused on two different things. While Accounting and Finance can be complementary my advice to you is to get some job experience. You can always go for CFA later on.

  77. assalamualaikum bro. Let me introduce first. I just passd my H.S.C last year with GPA 4.60 and SSC with GPA 4.63.
    My qs iz… I just know a little about ICMA. Nd from this year HSC passd student can do this.
    Nd if i complite my CMA thn what benifits i can get in futere?
    Nd can it b burden for me that i cant continue this properly with the knowledge of js SSC N HSC?

    The main thing…i am nt from any rich fmly… My dad is a frmr. Nd the whole famly is depending on my future nd if i do this…thn will it helpful fo me or not.

    Wish u will give me proper suggesn.

    Thank you.

    1. I have not done CMA myself. It is focused on managerial accounting. I think professional degrees are quite valuable. However, if you can get into any good public university for BBA I will probably suggest that you do BBA first. You can do CMA later. HOWEVER, if you cannot get into any good Public Uni maybe you can give CMA a shot.

      1. ya
        its my second time.
        n as per the family condition i decided to do this.

        bt da thing iz bro….. will it bearable fo me??

        or it will burden fo me?

        n what will b ma future?

  78. What is the key problem of greece debt crisis and what would be best prescription for greece which would be relevant other counterpart?

    1. The problem is simply that Greece does not have the financial capacity to pay back the loans. The austerity measures prescribed by the lenders left its economy in shambles. However, it does not seem to have any other option but to go for more austerity. In the absence of any other solution Greece will have to leave Eurozone, move to its own currency and possibly see massive inflation and unemployment.

      As for the prescription I really don’t have one at the moment. Think of a company overburdened with debt and no cash flow. Bankruptcy is the only solution for it.

  79. Hello Asif
    I am a bit confused asto what to do. I am in 2nd year of my b.com honours and i want appear for cfa. Since there is one condition that you can sit for cfa level 1 only if you are in 3rd year of your bachelors… will i be eligible to take cfa level 1 june 2016 exam since i would have cleared my 2nd year by then or shall i appear for december 2016? Please advice me on this.

  80. Dear Asif Bhai,
    Ur afford and dedication in answering almost all the questions is highly appreciable. Well, I need some suggestions and advices to build up my future career. I hv completed my bachelor from a reputated university in UK followed my Masters in Finance from Edinburgh Business school. I am 26 yrs old but so far I could not get any opportunity to start any professional job in UK. I am preparing myself for the CFA L1 EXAM in December.
    Well, I am planning to come back to BANGLADESH after my CFA L1 result and start my career but i dont have any idea whatsoever how could i start my career in BD. Should i complete L2 and L3 or u think considering my age its the right time for me to start professional life in BD. Do u think CFA L1 would add an extra value on my cv and will create more career opportunities and please mention couple of possible recruiters details.
    I will wait to hear more from you. Thank you.
    nazmul

  81. I am doing my Bs in economics at nsu . If I want to take accounting as my second major . What accounting courses do I have to take ? Can I incorporate few of the accounting courses in my economics open elective ?

  82. Hello
    What type of equity analysis is done more often in brokerage firms in bangladesh i.e. technical analysis, which comprises of analyzing past stock trends, or fundamental analysis, which consists of the analysis of annual disclosed financial reports? What type of analysis would you personally recommend a student to learn?

    Also, if possible, in a future post please give examples of common interview questions analysts and associates face in interviewing for stock brokerage firms in bangladesh. thanks again.

  83. Asif Bhai as salamu alaikum.this is MAMUN. I’m kind of in a dilemma. Bhaiya. I am a govt employee. Before that I was in a local bank for around 3 and half years.in addition I am studying emba in IBA and intending to do major in finance and also want to do CFA as well. Asif Bhai the other part is I want to leave govt job since I am not accustomed to the environment. I just want to know if I peruseCFA as well as MBA will be done in hopefully by the next year then having Emba from IBA major in finance and CFA can I have the opportunity to go to higher post directly in local(ab bank, Ucb, Ific) and foreign banks? Suggestion in this regard will be highly appreciated. What should I do actually? Kind if frustrated.

    1. Dear Mamun bhai,

      You do not need the CFA to move into the private sector. EMBA from IBA is good enough for that. However if you do get a job in the financial sector, pursuing the CFA program will give you a very good edge. In particular if you are in a stock brokerage, asset management, investment banking, commercial bank (credit risk and treasury) the CFA Charter will be a valuable addition.

      Hope that helps.

      Asif

  84. Dear Asif bhaia,
    I’m concentrating in Finance and Accounting from NSU. This is my 8th semester. I need two more semesters to complete all credits except internship. I’ll not take any course during my internship. Since I want to build up my career in investment banking or asset management, I want to do my internship in such financial organizations. (Q1) Will it be helpful for my career progression? (Q2) If yes, which firms do offer internship and how can I apply? I’m also getting prepared for CFA level 1 (December 2016). But September to December (2016) will be my internship period. (Q3) Is there any possibility for time clash or any type of inconvenience for internship and CFA exam?
    Finally, it would be highly appreciable if you give some suggestions and share your views regarding career in financial sector especially in investment banking for fresh graduates.
    Thank you.

    1. Q1. Yes getting a relevant internship is helpful.
      Q2. You need to make a list of such AMC and Investment Banks in Bangladesh. Find out contacts in the orgs and ask for ‘informational interviews’. Google the term to understand what it means.
      Q3. You have plenty of time. You just have to manage it well.

  85. Hello, glad to have a blog to ask the questions about CFA
    I have just registered for 2016 June CFA level 1
    I have some questions about topic-test and mock exam paper provided by CFA site,
    1. Is there only one mock exam paper for free to download in CFA? How can I get more past mock papers from CFA site? Because I cant find the link to download or purchase the past mock exam paper

    2.Many people recommends that candidates should do a few mock papers even as more as possible before exam, but I wonder are the previous mock papers as important as the latest one?
    3. If mock exam is the most important practise questions, do I still spend time on topic test? If the topic test is necessary, when to do the topic test is more useful? Is that I finish every topic and then I try every topic test?

    Except for the questions above, Nearly 9 months to have my CFA level 1 prepared, Do you have any good suggestion for me to get high marks, though passing is sufficient, but I really want my result to be as good as possible? If you were me, how would you plan for the best

    Have a good day!
    Nic

    1. 1. I think it is possible to buy more from CFAI. However, since its been a while I gave exam I am not sure where to get those. You can always buy mocks from 3rd party note providers.

      2. Recent ones are recommended but old ones would also do.

      3. Not sure what you mean by topic test. But it terms of priority it goes like mock exam>end of chapter questions>examples in CFAI text

  86. Bhaiya, I am a banker. I am now working at branch banking. I was a science background student. After completion of my B.Sc. I completed MBA major in Marketing. At the time of study I rarely studied Accounting. Now I want to enrol at ICMAB. Is it helpful for my career at bank?

  87. vai, in Bangladeshi business research firms, do they have started using Big data, Data mining, Machine learning etc technologies to gain insight from the market yet? If they do, how these technical persons are recruited. And if they have not started yet, what is waiting in the future? Thanks and take care.

    1. There are actually two pre-requisites before these things can work.

      a. Reliable high quality data – This is still missing in Bangladesh. This is the first step towards data analytics.
      b. Huge quantity of data – Big data analysis requires literally terabytes on information. Once again Bangladesh does not generate data in such large volumes which is stored.

      I think it will take a bit of time for big data, data mining etc to come in Bangladesh. First internet penetration needs to grow and that will lead to higher production of usable data.

  88. Hello vaiya,

    I believe I should not ask this question. However, I am asking as I feel totally puzzled. I am doing job in a US based outsourcing company for 7 years. I am planning to quit job soon, as I am feeling this job is not for me. I went through BBA (IBA-JU) and MBA (DU) and always I feel to work in finance related field. Now I am planning to take a break from job for 3/4 years. If I pursue CFA degree in the next 3/4 years, will it be a good decision? Will it be prospective for me?

    Thanks and sorry for my silly question.

    Nazia

    1. If you intend to move to a financial company eventually CFA might be a good choice. However, CFA can be done along with a job and a 3 to 4 year gap on your resume might not that good.

      Before deciding on a move to finance I would highly encourage you to research what kind of finance role you would prefer.

  89. Dear Asif Bhai,
    Hope u r fine. I am a banker having 13 + years of experience. Presently I work as AVP and Branch In-charge in a Branch of ONE Bank.

    I GOT my masters in Management from National University. Then I completed MBA ( Major in Finance) from IUB. I want to pursue more education. Options are:
    a. Executive MBA from IBA or
    b. MS in Economics from NSU.

    I am in great dillema. Plz suggest be which one i should pursue now.

  90. I am a chartered accountant with ACCA and Oxford Brookes BSc. I have a desire to serve as a governor of the central bank one day and therefore, craved a desire to study economics to the Phd level. I want to know if it ll be worth studying for an mba finance before starting the career in economics at the masters and Phd level.

  91. Hello Via, I am completing my graduation from NSU majoring in Finance and Accounting. I am currently doing my intern in a commercial bank and it will end in 15 December. From then I will have enough time for study. Actually I dont have other work then study. Currently I am very much confused what goal should I set to earn smart salary. I have two potion. One is go for MBA (IBA) admission test which will held in May 2016. For this test I have to study GRE, GMAT, Saifurs Math, Geometry, TOEFL, SAT and many other books. If I fail to admitted there these study will help me to get good marks in different bank jobs exams. But if I pass then certainly it will help me to build a prestigious career.
    Second option is start preparing for June 2016 CFA level-1 exam. I know CFA is better degree than not only IBA but also most of of top MBA in the world beside top 10 MBA in the world. But can I pass the exam if I start preparing from now. My CGPA is 3.01 at NSU. Actually I did not studied hard at NSU life. I was quite busy with currency trading(Forex). I have 3 years of experience in Forex market. But recently I disinterested with it. So I have no other work than study hard. There is a chance of failure in CFA and it took at least 3 years to complete. Yes. I know if I fail in CFA, than the knowledge of CFA will help me to earn good grade in MBA at NSU.
    Both option will help me in future, but what option will best for me currently?

  92. Hello Via, I am completing my graduation from NSU majoring in Finance and Accounting. I am currently doing my intern in a commercial bank and it will end in 15 December. From then I will have enough time for study. Actually I dont have other work then study. Currently I am very much confused what goal should I set to earn smart salary. I have two potion. One is go for MBA (IBA) admission test which will held in May 2016. For this test I have to study GRE, GMAT, Saifurs Math, Geometry, TOEFL, SAT and many other books. If I fail to admitted there these study will help me to get good marks in different bank jobs exams. But if I pass then certainly it will help me to build a prestigious career.
    Second option is start preparing for June 2016 CFA level-1 exam. I know CFA is better degree than not only IBA but also most of of top MBA in the world beside top 10 MBA in the world. But can I pass the exam if I start preparing from now. My CGPA is 3.01 at NSU. Actually I did not studied hard at NSU life. I was quite busy with currency trading(Forex). I have 3 years of experience in Forex market. But recently I disinterested with it. So I have no other work than study hard. There is a chance of failure in CFA and it took at least 3 years to complete. Yes. I know if I fail in CFA, than the knowledge of CFA will help me to earn good grade in MBA at NSU.
    Both option will help me in future, but what option will best for me currently?
    I will be greatful for your advise.
    Thank you.

  93. Hello Bhaiya,
    I have recently completed my undergraduate, did my major in Finance and I am interested about CFA. My question is, where to study CFA in Bangladesh?

    1. Ideally CFA is a self study program. Once you register and pay the fees for level 1 they will send you the text books. However, there is an institution called PFS in Dhaka which provides tuition.

      1. Bhiya without registration cant i collect those book for self study ? please advise me as my starting is waiting for information from where i can collect CFAI and schweser.

  94. Dear Asif Bhai,
    I have registered for CFA june 16 exams, level 1 and havent yet started studying yet. I have been basically procrastinating till now and have around 5 months left. I have a major in finance and minor in economics from nsu. What strategy would you recommend? As in which book should I start with? I was thinking of starting with the hardest part like fixed income and equity or financial reporting and analysis. I think I would find economics and corporate finance easier since I studied them before. And should I study the program books or go for schweser? I’m sorry for bombarding you with questions but I would be very grateful for your opinion.

    Regards,

    1. 5 months is still enough time Andalib. Also you have studied relevant subjects which should help. However there is no reason to be complacent and I suggest you start ASAP. With 5 months time there is no reason to skip anything and you can just start with the topic you find most interesting to get into the rhythm. However there is no rule to this. Ideally original books are recommended but if you find them monotonous you can also read Schweser. Do check out a few posts I have written earlier on exam preparation.

      Asif

          1. Well the first one wasn’t exactly at NSU. It was at Skylab School of Accounting at bashundhara gate about financial statement analysis. I was really amazed by the way you conducted that presentation and I took away a lot more than I did from many courses to be honest. I was also present at the one at NSU about finance in practice and theory and the one where Neil Govier visited NSU.

    1. I can consider writing one. However this issue is addressed by a number of books including Valuation by Mckinsey and Investment Valuations by Damodaran. In practice, majority of people use a Dividend Discount Model or some form of implies P/B formula.

  95. I want to know that what kind of job sectors are open for students of BBA (Finance) of DU,CU,JU,JNU and all public universities

    1. Almost any kind of job excluding the ones that require specialized technical skills (Engineering, Medical etc are examples). A BBA graduate should be able to apply for general sales, marketing, finance, accounts, general management etc.

  96. Hi Bhaiya I am from Chittagong. Studying BBA in finance. Want to join in CFA program. Now please suggest me how can I start & which books I should read for passing? Thanks.

  97. Hi Bhaiya,

    I am in danger zone right now these days. I am a BBA graduate and am doing a job. With the hope of pursuing an investment career, I have registered for CFA level 1. The examination is ensuing and due on 4th June this year. I did not touch anything so far but have started recently. I want to complete everything by 15th April so that I can use the last 50 days to take the maximum preparation.

    How can I overcome this danger. Please help!
    Kind regards,
    Rasel

  98. hello bhaia,
    I’m currently studying at NSU concentrating on finance and Accounting. I have 2 questions-
    1. what are the requirements or skills do I need to become an IG of SCB?
    2. as I’ve heard being an IG i have to complete all the 3 levels of CFA, will passing CFA level 1 help me to get recruited?

  99. Hello Asif Bhaia,
    I work as a research associate in a local stock brokerage firm. I am doing valuation on BRAC Bank. I am facing difficulties incorporating bKash in the valuation. For example, bKash reports both interest income and interest expenses. Now they don’t forward any loans but have deposits. In that case, how can I incorporate that interest income in consolidated basis to estimate Net Interest Margin? NIM is supposed to improve in that case for higher interest income, even if there is no virtual increase in overall loans due to bKash.

    If you have any suggestions regarding valuation techniques for a MFS company. Please share. Thanks in Advance!

    1. Hi Sadat, you have two valuation options.

      1. Value brac bank as a consolidated entity. To do that you do need to know how bKash numbers are consolidated.

      On your first question note that gross profit of bKash is recorded as fee income if the bank. Interest income is combined with other income.

      2. The other option is to do a sum of the parts. Value brac bank excluding bKash first. Then value bKash.

  100. Hello Sir,

    I am a first year MBA Student and have cracked Equity Research analyst internship in an investment bank. I currently read Bloomberg Business, Business Today and Mint Newspaper everyday. Sir, I request you if you can guide me on other sources of data I should be reading apart from these 3 sources of data to get information that is beyond between the lines.

    Awaiting for your reply.
    Thank You.

    1. Alongside news try to read some good books. News update you but real knowledge comes from books. Try reading the economist also as it gives you a big picture view of macroeconomy and politics.

  101. Hello Asif bhaiya ,
    I am a student of BBA (major in accounting ) . I want to recieve a proffesional degree . but now I am in confusion which degree should I take CFA/CMA or ACCA . Please suggest me what will be better for me . And can I complete cfa after completing cma ? And will it be beneficial ?

    1. I think its better to do either CMA or CFA. Whether its CMA, CFA or ACCA each of them focus on a particular area and the job roles are also different. You need to keep that in mind before choosing which you want to do. My suggestion is to finish your BBA, start working somewhere and then decide which to go for.

  102. hello asif vai…
    i m a student of Chittagong university… studying bba major in HRM… i want to know what are the professional courses regarding HRM will help me getting a job in future… can i apply in Europe to get a job by completing these courses???

  103. I would like to convey my appreciation for your kind-heartedness in assistance of guests who need to have support with this distinct situation. Your actual dedication to passing the message all-around appears to be exceedingly functional and have on a regular basis permitted a lot of people considerably like me to reach their pursuits. The invaluable ideas and hints signifies a great deal a person like me and on top of that to my colleagues. With thanks; from all of us.

  104. Hello Ashif via, I am studying BBS in azam khan commerce college. I want to start ACCA or CA with it. but what can be better between ACCA and ca for the higher job purposes in Bangladesh? Please suggest me what can I do now!!

    1. In Bangladesh CA is considered to be more prestigious than ACCA. I think both are good degrees though. However one thing to remember is that CA students have to do articleship in CA firms. That is not required for ACCA students. So it is possible to do a job and also ACCA at the same time. For now focus on BBS.

  105. Sir,
    I am from banking dept.University of Dhaka…after MBA what kind of job I will find and salary will be?

  106. Hello ,im student hons.2nd year marketing plz tell m that which bd cfa teacher tution help from this matter.and marketing student tough for this matter

  107. Hello Asif Bhai, I have been an avid follower of your posts and have received much needed guidance in the past. Right now I am a candidate for June L1 exam and will graduate from NSU next semester in finance and economics. I am very confused in deciding where I should apply for internship. I will eventually apply in various places but in case I get accepted in multiple places where should I get in considering my background. For example should I choose an NBFI or a bank? Which field would help me advance given my background and aspirations in the investment field?

  108. Vhaiya
    I am interested to take admission EMBA at NSU from coming September semester. I know there is no written test only oral test have to face there . Can I know which types of question i have to face there . I’m intend to take admission in Marketing . My background is 10 years marketing based job and and completed M.Sc in Mathematics.

    Expecting your prompt reply .

    Thanks
    Mohsin

  109. Dear Asif Bhai,

    Need your advice.

    I have hons and masters in Eco from National Univ and then MBA in Fin from East Delta Univ in Chittagong.
    I have been working in Sales and Marketing for last 5.5 years in a export oriented company in CEPZ. I am a Manager now.

    If want to move to MNCs, what one will be good for me—MBA (Marketing)/ CMA/ ACCA. Thanks, Tazul

  110. hi Asif vaia
    last year i finished my HSC from business study. now i want to study at ICMAB. will it be problem in future for me to get any job if i don’t have any honers or BBA degree.
    please i really need your advice on this.

  111. Bhaia I have completed my MBA in Finance and Banking in 2015 from CU .i am looking for a good job .but i couldn’t find any suitable job. My interest area are teaching and banking.what course will benefit me in the future .pls reply

  112. Hello. I am an accounting graduate. Currently studying MBA at NSU. I want to start CFA coaching & I want to take level 1 exam on December 16 or June 17 depending on my preparation. I am looking for a good coaching center or tutor nearby baridhara, ghulshan. If you know any coaching center please suggest me. Another thing is I recently found about CPA course conducted by BIMS. What do you think about CPA? Thanks in advance.

  113. Hello
    I wanted to know if u r a level 3 candidate of CFA n apply for a job in Bangladesh, what r the chances of getting the job if u have no job experience (with an undergraduate degree from university of Toronto in mathematics n astro physics).
    My second question is which banks or institutions in Bangladesh will be ideal for CFA Candidates to apply for a job? N without job experience does it always have to b an entry level job even if u r CFA level 3 candidate.

    1. Given your academic qualifications you should try for the Multinational banks like SCB, HSBC, Citi and also the non banks like BAT, Unilever, Nestle, Marico. Even if they offer entry level jobs they will give you good remuneration and in certain roles you can be empowered.

      Alternate option is to move into the capital markets. Target top brokers like BRAC EPL, Lankabangla, IDLC etc. You can consider AT Capital also.

  114. Bhaiya,
    I am a business graduate from NSU. Want to start my career as an accounting professional. I am bit confused whether I would go for CA (ICAB), ACCA or CIMA? I must mention, I have a plan to go abroad for MBA later. So for the time being I want to start any of these three that will be appreciated in abroad too.
    Just wanted to know, which one is more prestegeous or has more value in global context and also here in Bangladesh (if I just fail to execute my plan for MBA abroad)?
    Hope to get your reply soon 🙂
    Thank you!

    1. Acca and CIMA are recognized abroad but not in all countries. Still I would recommend you choose between these two. In Bangladesh CA still has more.value but other degrees are gaining reputation fast. Which country do you plan to go to?

      1. Thanks for your reply.
        My only option/target is Canada. As far as I know CIMA members can upgrade their credentials and be a member of CPA Canada. Besides, I personally prefer CIMA over ACCA. Though still in doubt.

        What would your suggestion then?

      2. Thanks for your reply.
        My only option/target is Canada. As far as I know, CIMA members can upgrade their credentials and be a member of CPA Canada. And I personally prefer CIMA over ACCA. Just to mention, I don’t have any preference between financial and management accouting. So I am bit confused.
        Badly need your suggestion bhaiya.

  115. Hello bhaiyaa,
    Currently i am a marketing major student. But after completing my principals of finance course , I got more interested in FIN than marketing . I am thinking of pursuing my CFA next year. Will it prove vital for my career in ? I mean is it a good decision for me . What should i do in this situation?
    P.S. I can not change my major because of close credit

      1. Vaiya,
        I intend to go abroad for MBA or MSc. In this case if I want to change my major to fin or eco in MBA or MSc. Will CFA help me pursuing my scholarship since I will have fin based knowledge?

  116. Hi Asif,

    Thanks for taking my question. I think in one of your blogs you’ve recommended the book Best Practices for Equity Analysts by James Valentine. I recently just bought the book and would like to start reading it. However, I also would like to get your advice on how to best utilize the book and implement those best practices recommended in the book. I have a few approaches in mind (see below) but if you have anything else in mind, I would be more than thrilled to hear your advice. In doing so, I hope to spend my time more efficiently, get the most out of this book, and be more effective in carrying out those practices.

    1. speed read the book from chapter one to the last chapter first and then do a ‘slow read’ during which you would spend more time understanding each ‘best practice’ in more depth and implement it into your work
    2. Instead of reading the whole book, start with chapter one and take the time to understand and possibly implement the best practice as you see fit before going into the next chapter.
    3. Use it as a reference book. That is, if you’re interested in learning about the best practices for ‘valuation’ then you would just go to those chapters that talk about valuation.

    Thanks!

    Look forward to hearing from you.

    Joey Ho

    1. Hi Joey, I have read this book a multiple times at different stages of my career and everytime came up with new insights. My suggestion is to read it carefully from beginning to end (dont speed read but dont wait after each chapter also). Take notes if you can. After that use it as a reference book.

      He also has a website where there is a lot of other very useful content. Dont miss that.

      Asif

      1. Gotcha.

        It’s always great to know that experienced analysts like yourself find the book useful before committing myself to the book.

        Thanks for the quick response Asif.

  117. My son reading BBA in Ahsanullah University of Science and Technology. Now he want coaching for 1st year 1st semister final examination . Now what can do? Pls advise me.Thank.

    1. Usually one doesn’t need tuition in university. I would recommend that he forms study groups to understand concepts that are hard to understand. If that doesn’t work he should seek out seniors in the university who have good grip on the subject and get some tuition.

  118. Hello baiya
    I am confuse and everyone is demotivating me.
    I am done with my A level.
    What should I do now BBA or ACCA.
    I want to be a professional accountant.So ACCA is good for me.But I don’t know anything about ACCA’s job market in Bangladesh.They get good paid in abroad but what about in our country?Do they get good salary?
    What do you prefer BBA or ACCA.

    1. ACCA has become fairly popular in Bangladesh and I think job prospects are good. However there are two options you can take.

      1. Do ACCA while studying BBA. A friend of mine did that.
      2. Do ACCA after finishing BBA (while already working).

  119. BBA with ACCA.if I start ACCA directly.I know it’s not a good decision.And if I enrol in LCBS for ACCA.DO you think it will help me?

    1. ACCA directly can also be done. But it might deprive you of some other soft skills that people need in workplace. The BBA gives a broad knowledge base and also improves your communication ability.

  120. Helo asif Bhai! Currently i am working in a commercial bank as MTO. I am posted on foreign trade section with a handsome salary. i m 26. Do u think CFA , which will take more than 3 year will help in financially based on the current context of our financial industry ?

  121. Hi, sir i do have a question that can i settle in uk after completing the CIMA from india or i need 1-2 years of experience in india and after such experience can i settle in uk.

  122. I want to know about CFA in Bangladesh. I’m so much interest about this. Can you please help me where I will contact for details about it. And if you help me about this, it will be help full for me.

    Thank You

  123. Hi sir,
    I’m a H.S.C student.
    I’m confused with CA and ACCA.
    Will you please tell me that which will be better for me? CA or ACCA? and why?
    I hope a better reply from you. Thanks in advance.

    1. Generally people in Bangladesh prefer CA over ACCA. However I think the gap is now closer and depending on your future plan you can choose. Also it might make sense to contact people who have done either CA or ACCA to get some more feedback because I did not do either degree.

      Asif

  124. Hello sir,
    I am living in a middle east country where continuing my higher education is really tough due to my financial crisis. I have completed my higher secondary under humanities. Then decided to go for CIMA. At the moment planning to sit for co1 and to take cert. In B.A of CIMA. I want to know will I be able to get any job in bangladesh? I want to complete CIMA but to do that I dont think I can ask from my family for the required fees but will my this certificate is enough to get a job with which I will be able complete my further papers? The country I am staying isnt going smooth for expatriates. So I think you got my point. Please let me know. Thank you.

  125. Hello bhaiya, how are how ? I am doing my AS levels (IAL) and i want to do CA in Bangladesh after completing my A levels. Would it be wiser to get myself enrolled in CA after grad or should i join after A levels ? I am ready to give my effort to the nth degree to be a chartered accountant and then FCA as well.

  126. Hi Asif vaiya,
    What is the present market condition of the Investment industry In Bangladesh?Is it worth doing CFA and join this industry??

  127. Hello Vaia. I hope you are doing great. If Efficient Market Hypothesis is correct and we take current Bangladeshi market into consideration (the recent ups and downs), in which category would you put Bangladesh market into? Has it improved significantly compared to 2010 or is it still the same market which is susceptible to retail investors whims and panic?Thanks!

  128. Hello sir, I am very passionate about CMA(ICMAB),I have completed my hsc recently,, I want to pursue CMA professional for there recently indermidiate entry route system in 2016..I want to focus very seriously in it from the very begining.so,I have no honours degree! If I complete whole CMA, should I go for this catogory job??

    I will eagerly wait for your valuable answer..

  129. Hello Sir,
    I have done B.Sc In EEE(2013) from University of Asia Pacific.I am interested in Bank jobs,thus i quit my job and Currently doing MBA-Finance From United International University,Whether MBA degree will be beneficial for me or not?I am eagerly waiting for your response?
    Thanking
    Md.Rashid-Al-Mahmud

  130. I am currently finishing my A levels. Until now i was planning on doing CA after i was done with school. But recently as i have been doing some research i came across CFA, CIMA. I would like some guidance about each of these. In which direction should i go? What are the career and income prospects of each of these degrees? Which line will not only help me earn the highest but also give me a bright future ahead? I have great interest in both accounting and economics. So please do help me and guide me.
    Thanks in advance.

    1. All three degrees are of high quality. You can do one and then another in any sequence you want. However, my honest feeling is that choosing any one is fine. Getting practical knowledge after degree is more important than getting more degrees.

  131. Hello Asif bhai,
    I completed my BBA from NSU in 2013. Then I have almost 4 years work experience in accounting sector. But now I am more interested to built my career in finance. I want to start CFA level one preparation. Can you please suggest me some texts that will help me to start my prerogative. Will self study be enough for CFA preparation? And can I sit for these exams for anywhere in the world? Please suggest me the text books.
    Best regards.

    1. Self study is enough. Once you register for the exam you will get textbooks from CFA Institute. There are online forums like Analystforum where you can interact with other candidates. And yes you can sit for the exam from any location.

  132. I am a mid level executive in a comercial bank in Bangladesh and MBA holder from Chittagong University. Now I am decided to enroll CFA. Would u please suggest me how can I prepare for exam for level 1. I am living in Chittagong, Bangladesh. Is coacing mandatory? Self preparation is not possible?

    THANK U
    AMIT
    FAVP

    1. Most people just get the books from CFA Institute and study by themselves. Coaching is not mandatory at all. I myself did not do coaching. However you will surely need to study a lot.

  133. Hello bro !
    I’m currently studying BBA at NSU. Since NSU separated fin and accounting, I got very confused between finance and accounting. I like both subjects but i don’t want to do dual major. I will pursue CMA and do a job simultaneously. I heard that only accounting graduates struggle more compared to finance graduates to get a job after graduation? is it true ?

  134. Hello bhaiya,
    I need some information regarding CFA scholarship and I have thoroughly checked the website and need some clarification. Can I apply for both access and awareness scholarship for women? Since I will be a full time student for next two years (will be attending my post grad abroad and want to sit for CFA during the period) so, I won’t have any employer who will sponsor my CFA studies. On the other hand, I think I am eligible for awareness scholarship for women too. Shall I apply for both categories? Cause I read somewhere in the website that if anyone gets one scholarship then other application gets void. Please help.

    1. Hi. I am actually not very knowledgeable on the cfa scholarships. My suggestion is you send a message to the cfa society bangladesh facebook page and ask this question. You can also contact CFA Institute.

  135. Dear Asif Vi,
    I need your suggestions. I have completed my MBA(Finance) from UIU in 2011 but still now i am not getting a good job so i am frustrated. Now i am doing a odd job. Now i am planning to Do CFA and registered for July-2018 Level-1 exam. So please suggest me was it a wise decision for me? If i can complete my level-1 in july/december 2018 it will add value in my career by considering my age and experiences? do i get a reasonable good job after completing level-1? is it possible to prepare for level-1(july 2018) if i start now ?

  136. Dear Asif
    I am a new analyst, but I have a problem in understanding on the advices that one of the most crucial elements in writing a good research report is to formalize a story, articulate it and defend it.

    Would you help me to understand the meaning of story ? I will be much appreciated if you can kindly give me some examples.

    Thank you in advance

    1. Sorry for the late reply. This is one area I myself struggled with. I think a good mentor can help, specially someone with more experience. The other thing is to think of the report as a story. The first thing you want to decide is what story you are trying to tell and why. What is the actionable insight of your report. Then you just need to back up your claim with facts, analysis and data points.

  137. Hello Asif vai,
    I’m currently a student of Shahjalal University of Science and Technology who’s majoring in statistics. I’m in my 4th semester. It always has been an aim for me to become a financial analyst. But due to my educational background and family conditions I had to choose statistics in SUST. Now if I want to pursue a career in financial analysis will CFA be enough? or I’ll have to get higher degrees like Ms in finance or economics before sitting for the CFA exam to meet the requirements of the current employers in finance sector?
    Thank you
    Regards
    Shahber Hassan.

  138. Dear Asif Vi,
    I need your suggestions. I have completed my MBA(Finance) from UIU in 2011 but still now i am not getting a good job so i am frustrated. Now i am doing an odd job. i registered for July-2018 Level-1 exam. So please suggest me was it a wise decision for me? If i can complete my level-1 in july/december 2018 it will add value in my career by considering my age? do i get a reasonable good job after completing level-1? is it possible to prepare for level-1(july 2018) as i start now ?

    1. It is hard to say in advance how much value addition it will do to your career and whether completing level 1 will guarantee a job. However, studying 5 to 6 months is generally enough to pass the levels.

  139. Hello Asif bhai,

    As you are working as a research analyst for a quite a long time, I want your advice on FCFF valuation Model. While forecasting sales growth; there are so many underlines to consider with( unit price, expected sales volume, future demand, expansion etc). While forecasting; we only forecast the headings on basis of our assumption (like O&A expenses, M&S expenses) and try to figure out Forecasted Net earnings. When valuaing a company on basis of FCFF model, how do I forecast CFO and other expenses like Changes in Net working Capital; CAPEX and etc. what should be the underlying assumptions one should consider while valuing a company on FCFF model.

    Thanks in Advance

    1. The best thing you can do is read the book Valuation by Mckinsey. They explain these factors in detail.

      Generally we calculate days of receivables, payables and inventory and make an assumption on whether they will go up or down. That allows us to forecast working capital. Capex is a bit more tricky as there are many more assumptions embedded in forecasting capex. A good practice is to try and break capex into expansion and maintenance components. If utilization levels are very high you need to embed assumptions of higher capex.

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