Ethics Challenge

CFA Society Pakistan Ethics Challenge

The CFA Society Pakistan Ethics Challenge embodies the mission of CFA Institute by promoting the highest standards of ethics, education, and professional excellence. It focuses on many of the elements of CFA Institute's Future of Finance initiative: Transparency and FairnessRegulation and Enforcement and Safeguarding the System. Equally important, it helps prepare those entering the investment profession for the ethical challenges that they will face in the workplace.

How it works

The Pakistan Ethics Challenge is designed to increase students' awareness of the ethical dilemmas they may face as future finance and investment management professionals. Student teams of 3 participants from finance, business or economics programs are given an ethics case to study and evaluate. Each team then presents its analysis and recommendations to a panel of judges selected by CFA Society Pakistan at the Pakistan Ethics Challenge.  Following a question and answer session with each team, the judges then select the final four teams for the final round in which the teams are given a new case to analyze. The judges finalize a winning team in the final round based on the team's understanding of the ethical issues involved, their recommendations, and the quality of their analysis, presentation, and responses to the judge's questions. 

The CFA Society Pakistan Ethics Challenge can:

  • Improve professional presentation skills
  • Help gain ethical decision-making experience
  • Provide exposure to real-world ethical dilemmas
  • Provide training to work with a team
  • Help expand professional networks

A faculty acts as the link between CFA Society Pakistan and the team of undergraduate students. The faculty assembles the team and guides them throughout the process.

Registration Requirements

A faculty advisor from the university choose and organizes a team of undergraduate students for the competition. The following requirements must be met:

  • The team must comprise of 3 members.
  • Two teams from one university are allowed to compete. 
  • Students must attend at least 80% of their classes at the particular campus to represent their university. Students can have full time or part time status. 
  • Students must be enrolled in their respective university at the time when the preliminary case is revealed.

Past Competitions

Ethics Challenge 2023

The Final of Ethics Challenge 2023 in Pakistan was held on 22 January 2024 in Karachi. The semi-final of the competition held on 20 January 2024 was conducted virtually and 21 university teams participated. The finalists for Ethics Challenge 2023 included:

1. Institute of Business Administration (IBA), Karachi
2. Sukkar IBA University
3. Lahore School of Economics (LSE)
4. Institute of Management Sciences (IMSciences), Peshawar

Institute of Business Administration (IBA) was the winner and Lahore School of Economics (LSE) emerged as the runner up.

There was a high profile panel of judges who dedicated their time and resources to this event, as shown below. 

Past Competitions

Ethics Challenge 2022 

The Ethics Challenge 2022 in Pakistan was held on 24 September 2022. The competition was conducted virtually and 22 university teams participated. 

Lahore University of Management Sciences (LUMS) was the winner. A team from the Institute of Business Administration (IBA) secured the Runner-up position.

There was a high profile panel of judges who dedicated their time and resources to this event, as shown below. 


Ethics Challenge 2021

The Ethics Challenge 2021 in Pakistan was held on 25 September 2021. The competition was conducted virtually and 22 university teams participated.  

New York University Abu Dhabi (NYU Abu Dhabi) won the Pakistan Final of Ethics Challenge 2021 and moved to the APAC Regional. A team from Institute of Business Administration (IBA) secured the Runner-up position.

Judges evaluating the team presentations for the virtual event were as shown below.

APAC Sub Regional Final 2020

The APAC Sub-Regional Ethics Challenge Final 2020 took place virtually on 3 October 2020 between finalists from Malaysia, Pakistan and Singapore. The team from Institute of Business Administration (IBA) made us all proud by winning the APAC Sub-Regional Final.


Ethics Challenge Pakistan Final 2020

The very first Ethics Challenge in Pakistan was organized by CFA Society Pakistan on 5 September 2020. Due to the unforseen circumstances caused by the Covid-19 Pandemic, the competition was conducted virtually. 

Institute of Business Administration (IBA) and Shaheed Zulfikar Ali Bhutto Institute of Science and Technology (SZABIST) won the Pakistan Final and proceeded to the Regional Final of Ethics Challenge. 

For more details, visit our newsletter archive here.

Register your team

If you have questions about registering or finding a faculty advisor for your team, please email us at [email protected].