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Usman Hayat, CFA

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152 Posts


Usman Hayat, CFA, writes about sustainable, responsible, and impact investing and Islamic finance. He is the lead author of "Environmental, Social, and Governance Issues in Investing: A Guide for Investment Professionals;" the literature review, "Islamic Finance: Ethics, Concepts, Practice;" and the research report "Sustainable, Responsible, and Impact Investing and Islamic Finance: Similarities and Differences." He is interested in online learning and has directed three e-courses for CFA Institute: "ESG-100," "Islamic Finance Quiz," and "Residual Income Equity Valuation." The other topics he writes about are macroeconomics and behavioral finance. He has experience working in securities regulation and as an independent consultant. His qualifications include the CFA charter, the FRM designation, an MBA, and an MA in development economics. He has served as a content director at CFA Institute. He is a former executive director at the Securities and Exchange Commission of Pakistan (SECP) and former CEO of the Audit Oversight Board (Pakistan). His personal interests include reading and hiking.

Author's Posts
Sustainable Investing and Fiduciary Responsibility: Conflict or Confluence?

An interview with David Blood reveals why sustainability is integral to fiduciary duty.

Impact Investing: Five Videos to Watch

Impact investing is punching way above its weight, attracting the attention of the news media and investors as well as politicians, academics, and even the pope. As interest has expanded, the need for curated video content on the subject — content that is suitable for investment professionals — has grown increasingly clear. With this in mind, I have compiled five of the most informative and useful videos on impact investing.

Green Bonds: What’s Right, What’s Wrong

The young green bond market has grown fast. Since the market's initial inception in 2007, the total yearly green bond issuance has expanded to $36.6 billion for 2014, triple that of 2013.

Integrating ESG Considerations with Fixed Income

The traditional investment approach to fixed income links the credit risk of a security to financial metrics like profitability, leverage, and productivity. But modern responsible investing goes beyond that. It also integrates environmental, social, and governance (ESG) metrics for a more complete risk assessment.

Improving Investment Decisions through Better Decision Governance

Investment professionals can add value in their investment decisions through good governance — not the good governance they preach to corporate executives of public companies, but the governance of their own investment decision-making.

Investment Decisions: How to Avoid Groupthink

What does it take to manage behavioral biases like groupthink in investment decisions? According to Paul Craven, ASIP, it's about being both self-aware and self-disciplined.

Ethics and Finance: Candid Insights from John Hendry

Does the financial services field constitute a profession? Are its practitioners more prone to ethical lapses than those in other sectors? Does it contribute to inequality? In this provocative interview, Cambridge University professor John Hendry, author of Ethics and Finance: An Introduction, offers some startling answers and considers ways to make financial services more ethical.

Nouriel Roubini: Unconventional Truth Six Years after the Crisis

Usman Hayat, CFA, interviewed Nouriel Roubini last month at the Middle East Investment Conference. Roubini shared his thoughts on why the unconventional monetary policies implemented since the Great Recession have not delivered on the hopes of their proponents or the fears of their detractors.

Is the Islamic Finance Industry a Success or Failure?

Since 1975, when the first Islamic commercial bank was established in Dubai, Islamic finance has come a long way. Its global assets are now estimated to be around US $1.5 trillion across the banking sector, capital markets, and takaful, or Islamic insurance. Given the available track record, how do informed observers characterize the development of this most prominent form of faith-based finance?

Roubini: Robust US Growth, Bumpy Landing for China, and No Grexit

Nouriel Roubini delivered the closing keynote address on the global economic outlook at the 2015 CFA Institute Middle East Investment Conference in Kuwait.