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Sri Lankan Prime Minister Ranil Wickremasinghe (2nd R) arrives to visit the site of a bomb attack at St. Anthony's Shrine in Kochchikade in Colombo on April 21, 2019. - A string of blasts ripped through high-end hotels and churches holding Easter services in Sri Lanka on April 21, killing at least 156 people, including 35 foreigners. (Photo by ISHARA S. KODIKARA / AFP) (Photo credit should read ISHARA S. KODIKARA/AFP/Getty Images)

The CFA Institute – the global association which offers the Chartered Financial Analyst (CFA) qualification filed a lawsuit in the Commercial High Court of Sri Lanka this week against ICFAI Education Lanka. The CFA Institute – the global association which offers the Chartered Financial Analyst (CFA) qualification filed a lawsuit in the Commercial High Court of Sri Lanka this week against ICFAI Education Lanka. The Institute of Chartered Financial Analysts of India (ICFAI) formed ICFAI Education Lanka purportedly to offer its unauthorized version of a CFA programme in Sri Lanka along with its other courses.

Rahul Keshap, Associate General Counsel at CFA Institute in a statement Friday said “We had no alternative but to take the matter to court, to protect the CFA name and to protect the interests of Sri Lanka’s investment professionals.”

“The international investment community recognises the international CFA qualification from CFA Institute as the gold standard for investment professionals. By using our name, the ICFAI is taking advantage of that hard-earned and well-deserved reputation.

Friday’s statement said CFA Institute learned of ICFAI’s plans to expand in Sri Lanka and therefore lodged